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Latest From Inhibrx, Inc.
Finance Watch: Financial Market Turmoil Ends Amicus SPAC Deal For Gene Therapy Spinout
Public Company Edition: As their stock prices plummet, Adagio reshuffles its research plan and names a new CEO, while Yumanity restructures and seeks strategic alternatives. Also, Bristol sells $6bn worth of notes, Amgen issues $750m green bond, and Inhibrx and Amryt amend and refinance debt.
Finance Watch: 2020 Is Four Biopharma IPOs Away From Matching 2019
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.
Finance Watch: As US IPO Market Gets More Challenging, Two Companies Opt Out
Public Company Edition: Five biopharma firms went public in the US in recent weeks, but Inhibrx withdrew its IPO and Monopar postponed its offering. Also, Tot Biopharm launched an IPO in Hong Kong, while Epizyme sold royalties and issued debt to raise up to $270m.
Deal Watch: Vertex Expands Gene-Editing Efforts With A Pair Of Deals
CF-focused Vertex will buy Exonics and expand a collaboration with CRISPR Therapeutics, with plans to develop therapies for DMD and myotonic dystrophy type 1. Merck acquires TGFβ-focused Tilos, while Achaogen offloads most of its assets at auction.
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