Finance Watch: US, Hong Kong IPOs Are Hot, But Sirnaomics Stays Private
The US- And China-Based Firm Raised A $105m Series E Round
Private Company Edition: Sirnaomics planned to go public after its series D, but its new venture capital does not prevent it from doing so in the near term. Also, Vida Ventures and Novalis Biotech raised new VC funds to back start-ups and ArriVent launched with up to $150m in series A cash.
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Private Company Edition: While the tough state of financing for publicly traded drug developers continues, venture capital firms and private biopharma companies revealed billions of dollars in new VC funds and start-up financings, including $100m-plus mega-rounds for Tessa, Alladapt and ImCheck.
Public Company Edition: Mergers with special purpose acquisition corporations also continue to take companies public, with three new SPAC offerings in late 2021. Also, Xeris raised $30m in a private placement of stock to support its recently approved drug and Sirnaomics went public in Hong Kong.
First DIDI, then other recently US-listed tech companies and now biotech companies are seeing share drops as China widens its cybersecurity reviews. But investors are also seeing other corrections from recent highs.