Finance Watch: Biopharma IPOs Slow But SPACs Back On The Go
New Merck Debt Totals $8bn; ImmunoGen Raises $297.5m
Executive Summary
Public Company Edition: It has been almost a month since a biopharma firm launched an IPO in the US, but special purpose acquisition corporations continue to take drug makers public, including Alvotech and Aerami. Outside the US, MaaT closed an IPO in Paris and BeiGene priced a Shanghai offering.
You may also be interested in...
Finance Watch: Blackstone Closes $1.6bn Fund To Back Commercial-Stage Companies
Public Company Edition: Blackstone Life Sciences Yield will finance approved products, while the firm’s prior fund supports late-stage programs. Also, Coeptis will merge with a SPAC, Bausch + Lomb secured post-IPO debt, and BioXcel revealed a $260m financing and new subsidiary.
Microbiome Modulators Slowly Nurture Investor Confidence
Once deemed an intimidating and risky space, microbiome modulator firms are slowly winning over investors as robust clinical data surface, with one company, Microbiotica, recently hitting an EU financing record.
Finance Watch: Biopharma IPO Market Silence Continues In The US
Public Company Edition: The last biopharma IPO in the US was on 17 February and none have been scheduled, so far, for March. Also, another SPAC merger is called off, Travere sells $275m worth of notes and Xeris secures $150m in new debt, while Ovid, Passage Bio and others are cutting jobs.