The Switzerland-headquartered group believes it has a potentially best-in-class GLP-2 agonist on its hands with apraglutide, which has proved effective in a subgroup of patients that do not benefit from standard of care Gattex.

The Danish biotech is looking to end 2022 on a high after raising over $105m and posting positive Phase III data on glepaglutide.

ARCH closed a $3bn VC fund to end the month of June while in the same week six public biopharma firms said they are cutting jobs. Even so, some publicly traded companies have been able to launch sizeable offerings, including a $450m note sale by Cytokinetics and Xenon’s $250m follow-on. 

Public Company Edition: Only nine drug developers went public in the US, raising $807m in the first quarter, versus 32 IPOs raising $5.2bn in Q1 of last year. Also, MoonLake closed its SPAC merger, Sanofi priced €650m in sustainability-linked bonds in €1.5bn note sale, and Kaleido will cease operations.