Finance Watch: SPAC Deals Emerge As IPO Market Goes Quiet Again
Three Firms Seize Opportunity To List Via Mergers
Public Company Edition: Direct Biologics, YishengBio and Estrella Biopharma will go public by merging with special purpose acquisition corporations. Also, Vir lands a government contract worth up to $1bn, Idorsia raises CHF164m ($167.4m) in a real estate deal and Adamis reviews alternatives.
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Finance Watch: Ferring Shutters San Diego R&D Site As Even Money-Making Firms Cut Costs
Restructuring Edition: After reporting record revenue, but lower profits due to rising costs, Ferring has decided to consolidate R&D in Europe. Also, Codiak has filed for Chapter 11 bankruptcy and will sell off its assets, while Exicure, Applied Molecular Transport, Gamida Cell and others revealed new job cuts.
Troubled Adamis To Merge With Private DMK, Focus On Neurological Disease
Deal Snapshot: Following a clinical failure for its COVID-19 candidate, Adamis sought strategic alternatives. DMK boasts a library of 750 first-in-class small molecule peptide analogues.
Finance Watch: Acrivon Adjusts Expectations To Launch $99.4m IPO
Public Company Edition: Acrivon launched the 20th biopharma IPO in the US for 2022. Also, Q3 updates reveal job cuts at Tricida, Harpoon, Neoleukin and more; APIM Therapeutics will reverse merge with Nordic Nanovector; plus other follow-on offerings, royalty deals and a sale-leaseback.