Finance Watch: HilleVax, Belite Bio Launch First Two Biopharma IPOs In Q2
Year-To-Date US First-Time Offerings Finally Hit Double Digits
Executive Summary
Also, Cytovia will go public via SPAC merger, Nkarta capitalized on its positive early NK cell therapy data with a $230m offering, and venture capital mega-rounds include $220m for Reify, $110m for Satellite Bio and $100m for OMass Therapeutics.
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Private Company Edition: Scion’s first fund exceeded its initial $250m fundraising goal. Also, The Column Group’s incubator raised a $400m-plus fund and Seroba’s fourth fund reaches $134m, while Neurona raised a $120m financing and Cour closed a $105m series A round.
Finance Watch: Adlai Nortye Raises $97.5m In IPO, Brings US Total To 18
Public Company Edition: Cancer-focused Adlai Nortye launched a concurrent initial public offering and private placement, while four other drug developers announced or completed SPAC mergers. Also, Sobi grossed $540m in a rights issue and Immunovant followed early data with a $450m FOPO.
Biopharma Investors, Companies Learning To Adjust To Financial Market Realities
Raising money will be difficult for the foreseeable future, so every part of the ecosystem from start-ups to public companies to VC firms is figuring out how to survive until cash is easily accessible again.