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Latest From IMV Inc.
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.
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.
Finance Watch: Rivus Raises $132m In Series B Cash To Fund Obesity Drug Trials
VC funding slowed recently, but public company financings kept up a brisk pace with follow-on public offerings for Allakos and Alpine, private placements for Ventyx and Syros, and Albireo’s royalty deal. In restructuring updates, Biogen raised $592m in a real estate deal and Acerus is assessing options.
Coronavirus Notebook: WHO Accelerator Project Languishes, Novel Treatments Are Explored, Gilead Submits US Remdesivir Filing
Gilead files for US approval of remdesivir and boosts investment in manufacturing capacity, more funding is needed for the global ACT Accelerator initiative, and the US and China are rated among the worst responders to the COVID-19 pandemic.
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- Immunovaccine Technologies Inc. (IVT)
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