IPOs channel feed

How hot is Hong Kong's biotech IPO mar­ket? Two biotechs just raised $800M to­tal

A pair of Chinese biotechs have collectively hauled in close to $800 million upon their public debuts in Hong Kong, tucking two hefty entrants to the steady stream of HKEX IPOs. Everest Medicines raised $423 million to bankroll its pipeline of in-licensed drugs, while Genor Biopharma is pouring its $371 million proceeds into the cancer and autoimmune pipeline.

Both had closed megarounds in June just before applying for a listing, highlighting the global nature of the current biotech boom. Hillhouse played a big role in both crossover financings, as Everest reaped $310 million and Genor grabbed $160 million.

Hans Schambye, Galecto CEO

Not two weeks af­ter clos­ing a Se­ries D round, Galec­to files for $100M IPO

Galecto Biotech is pivoting to the public market less than two weeks after completing a $64 million Series D round.

The Copenhagen-based company filed its S-1 paperwork Wednesday, seeking to raise $100 million in its IPO. If they hit that benchmark, the company will have totaled over $250 million in financing in the last two years, ever since closing a $90 million Series C back in 2018.

Through late August, the biotech industry had raised a combined $11 billion-plus across four dozen IPOs, per independent analyst Brad Loncar, which surpassed the amount from all of 2019.

Andrew Hirsch, C4 Therapeutics CEO

C4's An­drew Hirsch blows up IPO to $182M, while on­colyt­ic virus up­start nabs $87M of­fer­ing

On Friday, Massachusetts-based biotechs C4 Therapeutics and Oncorus became the latest to jump onto Nasdaq.

Less than a month after being tapped as C4 Therapeutics’ new CEO, Bind and Agios vet Andrew Hirsch is marching the biotech to Wall Street with an upsized IPO.

C4, which initially filed for $100 million, priced 9.6 million shares at $19 million apiece, netting $182.4 million. The proceeds will be used to push the company’s first protein degradation candidates into the clinic, according to an S-1/A filing.

Sean Bohen, Olema CEO (AstraZeneca via YouTube)

Af­ter re­cruit­ing an As­traZeneca vet as CEO to head a new team and rais­ing $139M cash, lit­tle Ole­ma ap­pears to be ready to launch … some­thing

Sean Bohen is managing his re-entry into the R&D world in style. And he’s swerving straight into the fast lane.

A couple of weeks after we chatted about the end of his sabbatical following his departure from AstraZeneca as CMO and his new job as CEO of Olema Oncology, Bohen took the wraps off of an $85 million investment round that puts him in league with some of the highest profile investors in the field.

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MPM joins the his­toric SPAC boom as its blank check com­pa­ny files for an IPO

Another blank check company has filed to ride the biotech IPO wave, which shows no sign of crashing anytime soon.

Turmeric Acquisition, a special purpose acquisition company formed by Boston-based MPM Capital, announced on Monday that it’s looking for a $100 million raise. It will be one of several to hit Nasdaq in a historic year for SPACs. It’s not clear which biotechs are in Tumeric’s sights — but it says it’s going after innovative companies with “new modalities”.

Ali­gos Ther­a­peu­tics, de­vel­op­ing sev­er­al dif­fer­ent hep B and NASH treat­ments, files for $100M IPO raise

Another biotech filed to go public late Friday as the 2020 IPO party rages on.

Aligos Therapeutics, focusing on chronic hepatitis B and NASH, submitted its S-1 paperwork to the SEC with a goal of raising $100 million. The company’s lead candidate is known as a STOPS molecule, or an S-antigen transport-inhibiting oligonucleotide polymer, and started a Phase I study for CHB in August.

Through late August, the industry as a whole had raised $11 billion-plus across four dozen IPOs, per independent analyst Brad Loncar, surpassing the amount from all of 2019.

Image credit: AP

The win­dow is wide open as four more biotechs join the go-go IPO class of 2020

It’s another day of hauling cash in the biopharma world as four more IPOs priced Friday and a fifth filed its initial paperwork.

The biggest offering comes from PMV Pharma, an oncology biotech focusing on p53 mutations, which raised $211.8 million after pricing shares at $18 apiece. Prelude Therapeutics, developing PRMT5 inhibitors for rare cancers, was next with a $158 million raise, pricing shares at $19 each. Graybug Vision raised $90 million after pricing at $16 per share for its wet AMD candidates, and breast cancer biotech Greenwich Lifesciences brought up the rear with a small, $7 million raise after pricing shares at $5.75.

On­ly five months af­ter a Se­ries A launch, Taysha goes pub­lic with $157M IPO

As has been the trend in 2020, Taysha Gene Therapies has become the latest biotech to make a quick ascent from a small, privately-funded company to enjoying its very own Nasdaq ticker.

The Dallas-based biotech raised $157 million for its IPO after pricing shares at $20 apiece Thursday, the high-point of its expected range. Initially pegging $100 million in financing, Taysha offered a little less than 8 million shares and will trade under the $TSHA symbol.

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Zai Lab hauls in $761M from Hong Kong IPO to push Ze­ju­la, more bud­ding can­di­dates in Chi­na — re­port

Zai Lab is set to net more than $761 million from its secondary listing in Hong Kong after pricing the IPO at $72.51 (HKD$562) — just a hair below its Nasdaq closing price on Monday, Bloomberg and Nikkei Asian Review reported.

A pioneer in bringing Western drugs to China, co-founder and CEO Samantha Du has more than tripled Zai Lab’s market cap in the three years it’s been public in the US. The HKEX listing is designed to fund R&D and commercialization for the current portfolio while fueling new in-licensing pacts, the biotech wrote in a filing.

Norbert Bischofberger, Kronos CEO

Three more biotechs look to jump on­to Nas­daq amid IPO boom, in­clud­ing Nor­bert Bischof­berg­er's Kro­nos

Three drug developers announced plans to go public on Friday, a sign that the IPO window for biopharma is wide open.

First up is Daly City, CA-based Spruce Biosciences. They filed for an $86 million IPO to develop their pipeline for classic congenital adrenal hyperplasia (CAH). Currently, only steroids are available to treat the condition, which affects the adrenal glands above the kidneys. Spruce’s tildacerfont, a non-steroidal option, is in a Phase IIb trial in adults with classic CAH and poor disease control. The company expects a topline readout here in the next 12 to 15 months. The small molecule is also in a Phase IIb study in adults with classic CAH and good disease control. Spruce expects topline data here in the first half of 2022.