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Latest From Gelesis, Inc.
Dozens of health care-focused special purpose acquisition corporations have gone public during the past two years but many biopharma firms that have merged with SPACs have not performed well to date, raising the question of how long the SPAC boom will last.
Public Company Edition: Three $100m-plus US initial public offerings launched on 15 July after two smaller biopharma IPOs earlier in the month. Also, Gelesis announced a SPAC merger, Brii and Amniotics launched ex-US IPOs, and Intellia, Cerevel and Kymera priced large follow-on offerings.
The concept of a parent company with operating subsidiaries is becoming increasing common in biotech. The first to do it, Daphne Zohar, who co-founded PureTech back in 2005, tells Scrip how the company has made that model work.
Also, deals involving Immunomic, Replicate, Biocon, DKSH, Genor, G1, Daiichi Sankyo, Esperion, Alteogen, Gelesis, China Medical System Holdings, Sosei and EverInsight.