Presto! Wall Street magician Vivek Ramaswamy has another instant biotech IPO to sell you
A pair of biotechs are looking to raise more than $250 million through IPOs, slipping into the short queue on the last working day of Q3. One is from a Bermuda-based adventurer with a knack for shaking loose cheap, late-stage assets from pharma’s R&D shelves and the other is a venture-backed player with plans to carve out a share of a blockbuster franchise.
The first is Myovant Sciences, another instant-mix biotech from the 30-year-old former hedge fund manager Vivek Ramaswamy. This time, the young financier has conjured a company with a respected scientist at the helm and former HHS Secretary Kathleen Sebelius on the board.
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