Biotech makes a $303M run on Wall Street; Billionaire Thiel backs a startup round for antibiotic developer
⇨ It’s been another big week on the biotech IPO front. Deciphera $DCPH went public, raising $128 million for its solid tumor work, sticking to the top of the range at $17 a share. The UK’s Nightstar Therapeutics $NITE team — a gene therapy company — hit the middle of the range, raising $75 million at $14 a share. And NuCana, another UK biotech which jumped to Nasdaq, scored a cool $100 million from its IPO. NuCana says it is working on next-gen chemotherapies. Add it all up and you have a picture of a thriving biotech market, which is certain to attract more S-1s as the industry enjoys another upbeat run of new offerings.
⇨ Silicon Valley billionaire Peter Thiel has a new upstart biotech to add to his portfolio. Thiel was credited as one of the lead investors in a $5.5 million Series A for Peptilogics, a new antibiotics company founded by Jonathan Steckbeck to tackle multidrug-resistant bacterial infections. Stefan Roever, BlueTree Ventures and others also jumped in.
⇨ Rumor has it that AAA — France’s Advanced Accelerator Applications — is on the auction block, with Novartis giving it a once over. If so, they just got a boost with the European OK for their drug Lutathera for gastroenteropancreatic neuroendocrine tumors.