Five Prime Therapeutics, Inc.
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Latest From Five Prime Therapeutics, Inc.
Public Company Edition: Three companies postponed or withdrew their offerings, but drug developers continue to pursue IPOs. Also, Biocon, BMS and Epizyme raised money through new debt, Five Prime capitalized on positive data and Synthetic Biologic engaged a strategic advisor.
A potential first-in-class FGFR2b-targeted monoclonal antibody, bemarituzumab, has shown top-line benefits in the Phase II FIGHT study in advanced gastric or gastroesophageal junction cancers.
Genentech pays $30m up front in a collaboration with Bicycle in a deal that could bring the UK biotech roughly $1.7bn in total. Also, deals involving Nimble, Seattle Genetics, Five Prime, Fresenius, Vifor, Yuhan, Imnewrun, Paratek, Almirall, MBD, AzothBio, Norgine, Faes, Aspen Pharmacare, Swixx.
BioNTech's $150m offering, after a prior large venture capital financing, gives it the third-largest market cap for a newly public drug developer in the US. Also, Innovent raises $300m in Hong Kong offering, Heron leads US follow-ons and Five Prime restructures to save $20m annually.
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