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.
→ Gritstone has struck a deal to in-license Arbutus’ $ABUS lipid nanotech delivery tech for its neoantigen R&D work. The partners didn’t break out the package of milestones and an upfront.
→ AbbVie has struck a deal to use Harpoon’s tri-specific T-cell activating construct (TriTAC) platform in its oncology R&D work.