Biotech’s IPO outlook for the rest of the year sours in wake of war, broader industry struggles
Forget IPOs. Biotech insiders expect to see a handful of reverse mergers before the end of the year, similar to Wednesday’s handshake between Nasdaq-listed Graphite Bio and eye drop maker Lenz Therapeutics, and Thursday’s deal between Homology Medicines and Q32 Bio.
“It wasn’t urgent to us. It’s not that we had to do something,” Lenz Therapeutics CEO Eef Schimmelpennink told Endpoints News, saying the company had enough money to carry it to 2025 without the deal. “This was just the right thing with the right investors at the right moment.”
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