Abl­ynx sets up a $175M IPO; Blade bags sec­ond tranche; Grit­stone inks de­liv­ery tech deal with Ar­bu­tus

→ Bel­gium’s Abl­ynx has set terms for a $175 mil­lion IPO on Nas­daq. In ad­di­tion to sell­ing 7.2 mil­lion shares for $150 mil­lion, the biotech al­so gains $25 mil­lion through a pri­vate place­ment of close to 2 mil­lion shares. The arrange­ment gives Abl­ynx a mar­ket val­ue of $1.5 bil­lion. Biotech IPOs have been do­ing well these past few months, and you can ex­pect plen­ty more while the good times roll.

→ South San Fran­cis­co-based Blade Ther­a­peu­tics has picked up the sec­ond tranche of its $45 mil­lion B round and se­lect­ed a lead drug can­di­date. The lead will be fo­cused on small mol­e­cule in­hibitors that se­lec­tive­ly tar­get cer­tain in­tra­cel­lu­lar cys­teine pro­teas­es. The biotech says it’s ready to en­ter the clin­ic in the mid­dle of next year.

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