Chinook Therapeutics Inc.
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Latest From Chinook Therapeutics Inc.
Public Company Edition: SVB Leerink predicts a rebound from an ongoing trough in biotech stock valuations during the second quarter of 2022. Also, Vaxxinity launched the third US IPO of November, bringing the year’s total to 102 and BridgeBio led recent financings with a $750m debt agreement.
Initial public offerings by Norbert Bischofberger’s start-up as well as Spruce Biosciences and Shattuck Labs bring the US total to 64 in 2020. Also, the pipeline of health care SPACs is growing, Everest and Genor went public in Hong Kong, Idorsia leads recent follow-on offerings and Corbus cuts jobs.
Focused on precision medicine for renal disease, Chinook gets Aduro’s Nasdaq listing and starting capital of $200m. During a wave of modest-sized M&A deals, Tetra finds buyer, Tetraphase gets competing bids.
Although there was no major acquisition starting out the J.P. Morgan Healthcare Conference, the deal-making flow has been steady. Pfizer licensed a neurodegenerative disease candidate to Biogen, while also selling Axsome rights to reboxetine in narcolepsy and fibromyalgia. Biogen signed a neurology R&D collaboration with CAMP4 as well.
- Drug Discovery Tools