Avidity tops up IPO at $298M; Bristol Myers keeps a Celgene discovery pact alive
→ The underwriters of Avidity Biosciences’ IPO have exercised their option to purchase additional shares, bringing the total amount raised from $259 million to $298 million. Listing under the symbol $RNA, the biotech conjugates antisense oligonucleotides with homing antibodies to target muscle disorders.
→ Bristol Myers Squibb is keeping a Celgene partner and carrying over a discovery pact focused on deubiquitylase (DUB) enzyme inhibitors. Dundee, Scotland-based Ubiquigent specializes in supporting drug developers interested in protein degradation through its screening platform, a portfolio of ready-to-license compounds as well as evaluation services.