Finance Watch: Four New IPOs Hold Steady In First Days Of Trading
Sarepta, Relay, Bicycle, Crinetics Launch Large Follow-Ons
Public Company Edition: Xilio, Ventyx, MiNK and Context went public in the US and later traded at or above their initial public offering prices. Also, Sarepta raised $500m and Relay grossed $350m in new offerings, while Oncopeptides, Esperion, Zymergen and Ardelyx reorganized and cut jobs.
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Finance Watch: Rivus Raises $132m In Series B Cash To Fund Obesity Drug Trials
VC funding slowed recently, but public company financings kept up a brisk pace with follow-on public offerings for Allakos and Alpine, private placements for Ventyx and Syros, and Albireo’s royalty deal. In restructuring updates, Biogen raised $592m in a real estate deal and Acerus is assessing options.
Asia Deal Watch: Huadong Licenses Two Cancer ADCs From Heidelberg Pharma
German firm’s antibody-drug conjugates use amanitin payload. Plus deals involving Sanwa Kagaku/Crinetics, Takeda/Code Bio, Taro/Alchemee, Mankind/Dr. Reddy’s and more.
Finance Watch: Financial Market Turmoil Ends Amicus SPAC Deal For Gene Therapy Spinout
Public Company Edition: As their stock prices plummet, Adagio reshuffles its research plan and names a new CEO, while Yumanity restructures and seeks strategic alternatives. Also, Bristol sells $6bn worth of notes, Amgen issues $750m green bond, and Inhibrx and Amryt amend and refinance debt.