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Private Company Edition: In other venture capital mega-rounds, Aurion brought in $120m, Sionna launched with $111m and Irish firm Renexxion said a private equity group committed up to $100m in total investment to be made within 36 months of a future public listing.
Experts say there should be enough Alzheimer’s patients willing to enroll in Biogen/Eisai’s US FDA-required Phase IV trial and other companies’ late-stage studies even with Aduhelm broadly available.
With 46 initial public offerings in the US by drug developers so far – including recent launches by Kymera, Inhibrx and Harmony – 2020 will easily beat last year’s 50 IPOs. In follow-on offerings and VC deals, newly public Schrodinger raised $346.5m and Tango’s $50m equity financing.
Gossamer took an infrequently used path to go public during a US government shutdown that's kept the SEC from processing new offerings. Also, IPO filings (and withdrawals) and follow-on offerings continued during the shutdown, while VC deals keep up a brisk pace.