Finance Watch: Kenvue, Acelyrin Launch Biggest Biopharma IPOs Of 2023
SPAC Mergers Still A Go-Public Alternative For Some
Public Company Edition: J&J’s consumer health spinout Kenvue grossed $3.8bn in its public market debut and Acelyrin raised $540m in an upsized IPO. Also, Seres accessed $250m in new debt for Vowst commercialization while follow-on offerings raised $325m for ImmunoGen and $240m for Morphic.
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Finance Watch: Royalty Deals Pick Up As Alternative Financings Find Appeal
Public Company Edition: Seven companies revealed $2.1bn worth of royalty financings in the first quarter of 2023 and the deals keep coming in Q2, with uniQure monetizing Hemgenix royalties for up to $400m. Also, Legend grossed $350m in a follow-on offering and Athenex is liquidating via bankruptcy.
J&J CEO On Stereotypes, Innovation Secret Sauce And Kenvue
J&J chairman and CEO Joaquin Duato shares striking glimpses of his own life journey at a recent summit as he underscores the value of diversity, equity and inclusion. He also discusses the company’s formulae for innovation and the Kenvue spin out.
FibroGen’s Roxadustat On The Rocks After Phase III Myelodysplastic Syndrome Failure
MATTERHORN’s failure did not surprise analysts, but it’s likely the end of the road for roxadustat in the US market. The focus instead has shifted to FibroGen’s IPF asset pamrevlumab.