Finance Watch: Amylyx, CinCor And Vigil Ready The First Biopharma IPOs Of 2022
First-Time US Offerings Could See A Strong Start
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.
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Public Company Edition: While panelists at Biotech Showcase argued merging with a special purpose acquisition corporation is not as attractive as it used to be, firms continue to pursue this go-public alternative. Also, Hillstream launched a small IPO and Cytokinetics accessed cash from Royalty Pharma.
Private Company Edition: The industry raised $28bn in venture capital through the third quarter, breaking the record $27.4bn raised last year. Also, big pharmas backed a start-up lab in Israel, plus mega-rounds for CinCor Pharma ($143m) and Rectify Pharmaceuticals ($100m), while Cerecin raises $40m.
Japanese firm's decision to end development of entinostat in its licensed territories marks possibly final blow to development of the HDAC inhibitor in breast cancer.