IPO TRACKER

A real-time look at every biotech IPO filed and the amount raised in all the world's indexes. Compiled by associate editor Max Gelman.

COMPANIES
RAISED
Traditional IPOs

95

13.27B

SPACs

50

18.06B

TOTAL

145

31.33B

IPO Tracker Logo
Q1
Omega Al­pha SPAC
Gra­cell Biotech­nolo­gies
Cul­li­nan On­col­o­gy
KL Ac­qui­si­tion
Big Cy­press Ac­qui­si­tion
Health­care Cap­i­tal Corp
FoxWayne En­ter­pris­es Ac­qui­si­tion
One Eq­ui­ty Part­ners Open Wa­ter I
SCP & CO Health­care Ac­qui­si­tion
Biotech Ac­qui­si­tion
Health­Cor Catalio Ac­qui­si­tion
Ignyte Ac­qui­si­tion
Brook­line Cap­i­tal Ac­qui­si­tion
Sana Biotech­nol­o­gy
Lan­dos Bio­phar­ma
Sen­sei Bio­ther­a­peu­tics
Im­muno­core
Bolt Bio­ther­a­peu­tics
Vor Bio­phar­ma
Terns Phar­ma­ceu­ti­cals
Phar­varis
Evax­ion Biotech
An­gion Bio­med­ica
HH&L Ac­qui­si­tion
Ada­gene
Bio­phytis
Se­ma4
Deci­bel Ther­a­peu­tics
Nex­Im­mune
ABG Ac­qui­si­tion I
Isle­worth Health­care Ac­qui­si­tion
ARYA Sci­ences Ac­qui­si­tion IV
Ibere Phar­ma­ceu­ti­cals
Ori­on Ac­qui­si­tion
Dig­i­tal Trans­for­ma­tion Op­por­tu­ni...
Prometheus Bio­sciences
Long­board Phar­ma­ceu­ti­cals
Fron­tier Ac­qui­si­tion
Eu­ro­pean Biotech Ac­qui­si­tion
Gold­en Ar­row Merg­er
Gain Ther­a­peu­tics
Finch Ther­a­peu­tics
Con­nect Bio­phar­ma
In­stil Bio
Re­search Al­liance II
Rev­o­lu­tion Health­care Ac­qui­si­tio...
Longview Ac­qui­si­tion II
Khosla Ven­tures Ac­qui­si­tion II
Khosla Ven­tures Ac­qui­si­tion III
La­va Ther­a­peu­tics
Ike­na On­col­o­gy
Edge­wise Ther­a­peu­tics
De­sign Ther­a­peu­tics
Uni­verse Phar­ma­ceu­ti­cals
So­ma­Log­ic
Achilles Ther­a­peu­tics
Q2
Bet­ter Ther­a­peu­tics
Panacea Ac­qui­si­tion Corp II
Arti­va Bio­ther­a­peu­tics
Vec­tivBio
Val­ne­va
Re­neo Phar­ma­ceu­ti­cals
Tan­go Ther­a­peu­tics
Sur­rozen
Re­cur­sion Phar­ma­ceu­ti­cals
Bio­mea Fu­sion
Gy­ro­scope Ther­a­peu­tics (with...
Sagimet Bio­sciences
Zymer­gen
Rain Ther­a­peu­tics
Im­pel Neu­roPhar­ma
Pro­ta­genic Ther­a­peu­tics
Were­wolf Ther­a­peu­tics
Vac­citech
Roivant Sci­ences
Jasper Ther­a­peu­tics
Aneb­u­lo Phar­ma­ceu­ti­cals
Ta­laris Ther­a­peu­tics
Sci­ence 37
Gink­go Bioworks
Ori­on Biotech Op­por­tu­ni­ties
Lark­spur Health Ac­quisi­ti...
Ve­ra Ther­a­peu­tics
Dy­nam­ics Spe­cial Pur­pose Corp.
Day One Phar­ma­ceu­ti­cals
Spar­ta Health­care Ac­quisi...
eF­FEC­TOR Ther­a­peu­tics
Centes­sa Phar­ma­ceu­ti­cals
Con­text Ther­a­peu­tics
HCW Bi­o­log­ics
Va­lo Health
Ocean Bio­med­ical
Janux Ther­a­peu­tics
Alza­mend Neu­ro
JATT Ac­qui­si­tion
Mol­e­c­u­lar Part­ners
Lyell Im­munophar­ma
Verve Ther­a­peu­tics
23andMe
ATAI Life Sci­ences
Cen­tu­ry Ther­a­peu­tics
Am­brx Bio­phar­ma
Cyteir Ther­a­peu­tics
Monte Rosa Ther­a­peu­tics
Acurx Phar­ma­ceu­ti­cals
Graphite Bio
GH Re­search
El­e­va­tion On­col­o­gy
Al­pha Tekno­va
Vi­vid­ion Ther­a­peu­tics
Dy­nacure
Pardes Bio­sciences
So­cial Cap­i­tal Su­vret­ta Hold­ings...
So­cial Cap­i­tal Su­vret­ta Hold­ings...
So­cial Cap­i­tal Su­vret­ta Hold­ings...
So­cial Cap­i­tal Su­vret­ta Hold­ings...
Aerovate Ther­a­peu­tics
Q3
Acu­men Phar­ma­ceu­ti­cals
WCG Clin­i­cal Ser­vices (postp...
TransCode Ther­a­peu­tics
Arya Sci­ences Ac­qui­si­tion V
Eras­ca
Pre­net­ics
TScan Ther­a­peu­tics
Ima­go Bio­Sciences
Cas­tle Creek Bio­sciences
Aes­ther Health­care Ac­quis...
Gele­sis
Iso­Plex­is
Paci­fi­co Ac­qui­si­tion
Cari­bou Bio­sciences
Sophia Ge­net­ics
Ab­sci
Jade Moun­tain Ac­qui­si­tion
Can­del Ther­a­peu­tics
Rally­bio
Nu­va­lent
Icosavax
Tenaya Ther­a­peu­tics
Rani Ther­a­peu­tics
Omega Ther­a­peu­tics
Im­muneer­ing
Max­Cyte
IN8bio
Ada­gio Ther­a­peu­tics
EQRx
Eliem Ther­a­peu­tics
Der­ma­ta Ther­a­peu­tics
Tyra Bio­sciences
DiCE Ther­a­peu­tics
The­seus Phar­ma­ceu­ti­cals

FILED

The­seus Phar­ma­ceu­ti­cals

Type & Stage
IPO: Filed
CEO
Tim Clackson
ticker
THRX
exchange
NASDAQ
Filed Date
15 September
Est Raise
$100M

snapshot

By June 2018, the dust on Take­da’s $5.2 bil­lion buy­out of Ari­ad On­col­o­gy had long set­tled. But a group of long­time col­leagues were itch­ing to do some­thing new with the com­pounds they had de­vel­oped to­geth­er. So they struck a deal with Ari­ad — as a Take­da sub­sidiary — to li­cense some patents, com­pounds and a chem­i­cal li­brary that would feed in­to a new com­pa­ny. In ex­change, Ari­ad would grab a stake in the start­up. And three years lat­er, that com­pa­ny, The­seus Phar­ma­ceu­ti­cals, is gear­ing up for an IPO. Hav­ing ush­ered mul­ti­ple ty­ro­sine ki­nase in­hibitors through the clin­ic and to­ward ap­proval to­geth­er, their goal was straight­for­ward: to de­vel­op “pan-vari­ant” ki­nase in­hibitors that can hit all of the known, ma­jor can­cer-caus­ing and drug re­sis­tance mu­ta­tions in pro­tein ki­nas­es.

coverage

Jade Moun­tain Ac­qui­si­tion

Type & Stage
SPAC: Filed
CEO
Moses Chen
ticker
JMACU
exchange
NASDAQ
Filed Date
23 July
Est Raise
$100M

snapshot

There’s a new SPAC in Taipei City, Tai­wan, and it’s look­ing for a part­ner in the health­care and tech­nol­o­gy space. Jade Moun­tain Ac­qui­si­tion sub­mit­ted its S-1 pa­pers on Thurs­day, pen­cil­ing in a $100 mil­lion raise. The blank check com­pa­ny is helmed by Moses Chen, who’s cur­rent­ly man­ag­ing di­rec­tor of Tai­wan-based Max­pro Ven­tures. He pre­vi­ous­ly served as act­ing COO of SyneuRx In­ter­na­tion­al. “The com­pa­ny plans to tar­get the health­care and tech­nol­o­gy sec­tors, as well as tech­no­log­i­cal­ly ad­vanced seg­ments of the med­ical, biotech­nol­o­gy, dig­i­tal, da­ta and da­ta sci­ence, in­dus­tri­al, and fi­nan­cial fields,” it said in a state­ment.

 

coverage

Paci­fi­co Ac­qui­si­tion

Type & Stage
SPAC: Filed
CEO
Edward Wang
ticker
PAFOU
exchange
NASDAQ
Filed Date
20 July
Est Raise
$50M

snapshot

The SPAC comes from the CEO of phar­ma VC firm The Bal­loch Group, Ed­ward Wang. Wang plans to fo­cus ac­qui­si­tion ef­forts on a com­pa­ny based in Asia, and is pen­cil­ing in $50 mil­lion for the blank check raise. In ad­di­tion to biotech, Wang not­ed he is al­so ex­plor­ing a merg­er with a com­pa­ny in the new en­er­gy and ed­u­ca­tion sec­tors. Cur­rent plans will cen­ter around a com­pa­ny val­ued be­tween $150 mil­lion and $300 mil­lion. Ac­cord­ing to the S-1, the SPAC has con­nec­tions to a for­mer Chi­nese youth trav­el di­rec­tor, as CFO Yi Zhong served in this ca­pac­i­ty for 16 months be­tween 2016 and 2017. An­oth­er di­rec­tor, Ray­mond Gibbs, al­so spent time in the con­sumer goods in­dus­try.

 

Iso­Plex­is

Type & Stage
IPO: Filed
CEO
Sean Mackay
ticker
ISO
exchange
NASDAQ
Filed Date
20 July
Est Raise
$100M

snapshot

Iso­Plex­is is charg­ing ahead with its plan to per­son­al­ize can­cer treat­ment us­ing its sin­gle-cell analy­sis tool to re­fine im­munother­a­pies. That tool has helped re­searchers cre­ate what the com­pa­ny calls “pro­teom­ic bar­code chips,” al­low­ing clos­er ex­am­i­na­tion of a pa­tient’s com­ple­ment of pro­teins with­in cells. Though Iso­Plex­is is fo­cus­ing on can­cer right now, they have am­bi­tions to ex­pand in­to in­fec­tious dis­eases, in­flam­ma­to­ry con­di­tions and neu­ro­log­i­cal dis­eases, the S-1 said. The com­pa­ny be­lieves the sin­gle-cell ap­proach is key here, as it ar­gues pre­vi­ous pro­teomics ap­proach­es fo­cus on­ly on av­er­age cell ac­tiv­i­ty in the ag­gre­gate. Re­searchers uti­lize Iso­Plex­is’ sys­tems for the analy­sis of func­tion­al pro­teins from sin­gle cells on “pro­teom­i­cal­ly bar­cod­ed” chips. Af­ter the chip is run on the Iso­Plex­is in­stru­ment, the com­pa­ny runs it through a soft­ware it de­vel­oped to an­a­lyze how a per­son’s im­mune sys­tem might re­spond to dif­fer­ent treat­ments, in a process CEO Sean Mack­ay termed “sin­gle-cell im­mune land­scap­ing” in an in­ter­view with End­points in Jan­u­ary. Iso­Plex­is did not re­veal its plans on how it ex­pects to use IPO funds, say­ing on­ly in the S-1, “At this time we can­not spec­i­fy with cer­tain­ty the par­tic­u­lar us­es for the net pro­ceeds from this of­fer­ing.” The biotech fur­ther didn’t re­veal how much of the com­pa­ny each stake­hold­er owns, though it did say Mack­ay is the high­est-paid di­rec­tor af­ter he took home near­ly $1 mil­lion last year.

coverage

Aes­ther Health­care Ac­qui­si­tion

Type & Stage
SPAC: Filed
CEO
Suren Ajjarapu
ticker
AEHAU
exchange
NASDAQ
Filed Date
19 July
Est Raise
$100M

snapshot

The SPAC known as Aes­ther Health­care Ac­qui­si­tion filed for its ini­tial of­fer­ing in Ju­ly, putting down $100 mil­lion as its raise es­ti­mate. Led by Suren Aj­jara­pu, chief ex­ec­u­tive of on­line drug mar­ket­place TRx­ADE Health, the SPAC is tar­get­ing phar­ma­ceu­ti­cals, medtech and health­care IT. Per the S-1, Aj­jara­pu cur­rent­ly con­trols all shares of the SPAC, but once it prices he will on­ly own 20%. Aj­jara­pu got his com­pa­ny start­ed back in 2010 with the goal of giv­ing phar­ma­cies more pow­er in sell­ing their pre­scrip­tion drugs. Based out of Land o’ Lakes, FL, TRx­ADE boasts of price com­pe­ti­tion with e-com­merce gi­ants like Ama­zon and eBay, claim­ing it has dozens of drug whole­salers that al­low mem­bers to save tens of thou­sands of dol­lars. Much of the SPAC’s team is made up of Aj­jara­pu’s col­leagues at TRx­ADE and oth­er com­pa­nies in which he serves as a board mem­ber. The TRx­ADE CFO is al­so join­ing as the SPAC’s fi­nances head, and Aj­jara­pu has crossed paths with two oth­er board mem­bers.

coverage

Cas­tle Creek Bio­sciences

Type & Stage
IPO: Filed
CEO
Matthew Gantz
ticker
CCBS
exchange
NASDAQ
Filed Date
16 July
Est Raise
$100M

snapshot

Ahead of a high-stakes Phase III read­out in the sec­ond half of next year, Cas­tle Creek is seek­ing to join the Nas­daq ranks. The Ex­ton, PA-based biotech is fo­cus­ing its ef­forts around a pro­gram called dabo­cema­gene aut­ofi­cel, or D-Fi, to treat re­ces­sive dy­s­troph­ic epi­der­mol­y­sis bul­losa, a some­times fa­tal rare dis­ease caused by a lack of col­la­gen in the skin re­sult­ing in un­con­trol­lable blis­ter­ing. It’s a pro­gram that comes from the small ac­qui­si­tion of the biotech Fi­bro­cell back in Sep­tem­ber 2019. Cas­tle Creek has been work­ing on rare dis­eases in­volv­ing the skin since in­cep­tion, with a for­mer lead pro­gram in a broad­er epi­der­mol­y­sis bul­losa pop­u­la­tion. But that can­di­date, a top­i­cal re­for­mu­la­tion of the IL-1 be­ta an­ti-in­flam­ma­to­ry drug di­ac­ere­in, failed a Phase II study in Oc­to­ber 2018. Co-founder Michael Der­by had told End­points at the time that Cas­tle Creek planned to ad­vance the pro­gram in­to Phase III de­spite the fail­ure, but it’s un­clear if those plans ever came to fruition. Di­ac­ere­in is no longer list­ed among the biotech’s pipeline, and its on­ly men­tions in the S-1 re­volve around the old li­cens­ing agree­ments Cas­tle Creek signed to re-en­gi­neer it as a top­i­cal drug. The biotech will con­tin­ue to charge for­ward with the new­er can­di­date, and plans to launch a sec­ond Phase III study be­fore the end of 2021 in the dom­i­nant ver­sion of dy­s­troph­ic epi­der­mol­y­sis bul­losa

coverage

WCG Clin­i­cal Ser­vices (post­poned)

Type & Stage
IPO: Filed
CEO
Donald Deieso
ticker
WCGC
exchange
NASDAQ
Filed Date
1 July
Est Raise
$100M

snapshot

WCG Clin­i­cal Ser­vices launched back in 2012 as an al­ly to bio­phar­ma com­pa­nies and con­tract re­search or­ga­ni­za­tions, seek­ing to ad­dress what it calls “crit­i­cal pain points” in clin­i­cal tri­al per­for­mance. The Prince­ton, NJ-based com­pa­ny filed an S-1 on Thurs­day, pen­cil­ing in a $100 mil­lion raise. It claims to have sup­port­ed around 90% of glob­al clin­i­cal tri­als that took place over the last two years, pro­vid­ing ser­vices like study plan­ning, pa­tient en­gage­ment, and eth­i­cal re­view. The team par­tic­i­pat­ed in more than 723 Covid-19 tri­als, ac­cord­ing to CEO Don­ald Deieso. The com­pa­ny aims to tack­le is­sues like slow en­roll­ment, “bur­den­some ad­min­is­tra­tive process­es,” and the un­der-rep­re­sen­ta­tion of mi­nor­i­ty pa­tients. WCG post­poned their IPO plans on Au­gust 5.

coverage

Vi­vid­ion Ther­a­peu­tics

Type & Stage
IPO: Filed
CEO
Jeff Hatfield
ticker
VVID
exchange
NASDAQ
Filed Date
25 June
Est Raise
$100M

snapshot

Vi­vid­ion made it pret­ty ob­vi­ous that an IPO was in the works. The Se­ries C that Jeff Hat­field had as­sem­bled back in Feb­ru­ary bore all the sig­na­tures of a crossover: Al­ready backed by ARCH and Ver­sant, Vi­vid­ion gath­ered the $135 mil­lion raise from a dream team of A-list in­vestors. What might be sur­pris­ing about the S-1 fil­ing is the de­tails the biotech has un­veiled, for the first time, about the pipeline — es­pe­cial­ly the pro­grams it’s de­vel­op­ing on be­half of part­ners at Bris­tol My­ers Squibb and Roche. Cel­gene helped put Vi­vid­ion on the map back in 2018 when it paid $95 mil­lion in cash to kick­start a re­search pact. Up un­til now, Hat­field had been tight-lipped about what Cel­gene — now part of Bris­tol My­ers Squibb — went with as the ini­tial pro­gram, say­ing on­ly that it’s “one of a hand­ful of Holy Grail tar­gets in on­col­o­gy and im­munol­o­gy.” With the help of its chemo­pro­teom­ic plat­form, Vi­vid­ion wrote, it has un­cov­ered a pock­et on STAT3 that they can make oral­ly avail­able com­pounds against, there­by achiev­ing “near com­plete in­hi­bi­tion” of STAT3. Vi­vid­ion and BMS are look­ing at both on­col­o­gy and im­munol­o­gy ap­pli­ca­tions. As for Roche, Vi­vid­ion not­ed they are de­vel­op­ing a slate of WRN in­hibitors.

coverage

Dy­nacure

Type & Stage
IPO: Filed
CEO
Stéphane van Rooijen
ticker
DYCU
exchange
NASDAQ
Filed Date
25 June
Est Raise
$100M

snapshot

Just over a year af­ter com­plet­ing a mod­est $55 mil­lion Se­ries C round, French biotech Dy­nacure is look­ing for its own stock tick­er. Dy­nacure was found­ed in 2016 as part of a part­ner­ship be­tween Io­n­is and a French re­search cen­ter called the In­sti­tute of Ge­net­ics and Mol­e­c­u­lar and Cel­lu­lar Bi­ol­o­gy. While Io­n­is was on the verge of an ap­proval for its block­buster Spin­raza in spinal mus­cu­lar at­ro­phy, Dy­nacure was look­ing to use an­ti­sense to treat cen­tronu­clear my­opa­thy — a group of dis­or­ders sim­i­lar­ly marked by mus­cle wast­ing and weak­ness. The com­pa­ny’s lead can­di­date, DYN101, is cur­rent­ly in a Phase I/II tri­al in Eu­rope, and re­searchers hope to ex­pand the tri­al in the Unit­ed States in the sec­ond half of this year, the F-1 states. Dy­nacure’s plan­ning an in­ter­im phar­ma­co­ki­net­ic and safe­ty read­out in the sec­ond half of 2022, with fi­nal da­ta slat­ed for 2023.

coverage

JATT Ac­qui­si­tion

Type & Stage
SPAC: Filed
CEO
Someit Sidhu
ticker
JATT
exchange
NASDAQ
Filed Date
15 June
Est Raise
$120M

snapshot

This SPAC is run by Someit Sid­hu, a co-founder of Pathios Ther­a­peu­tics, as well as CEO of Akaza Bio­science and Izana Bio­science. Join­ing Sid­hu on the team are Tauhid Ali, a for­mer Take­da vet who launched three biotechs out of the phar­ma’s in­cu­ba­tor, and Arnout Ploos van Am­s­tel, for­mer head of No­var­tis’ im­munol­o­gy, he­pa­tol­ogy and der­ma­tol­ogy fran­chis­es. Com­pared with some of the oth­er SPACs out there, Sid­hu is a rel­a­tive­ly un­known play­er. He doesn’t have the name recog­ni­tion of some­one like Richard Bran­son, Eli Cas­din or Vin­od Khosla, nor the os­ten­si­ble cult fol­low­ing of “SPAC King” and ear­ly Face­book ex­ec­u­tive Chamath Pal­i­hapi­tiya. What he does have, at least ac­cord­ing to the SEC fil­ing, is ex­pe­ri­ence at the con­sult­ing firm McK­in­sey where he cut his teeth ad­vis­ing un­named glob­al phar­ma com­pa­nies. He al­so holds a de­gree from Ox­ford Med­ical School with an em­pha­sis on car­di­ol­o­gy and gen­er­al surgery. Sid­hu’s two biotechs — whose web­sites, for what­ev­er rea­son, are near­ly iden­ti­cal — are part­nered with Take­da and the UK gov­ern­ment’s in­no­va­tion agency. Akaza is aim­ing to bring an old Take­da com­pound through clin­i­cal tri­als for the treat­ment of acute-on-chron­ic liv­er fail­ure, while Izana is push­ing an­oth­er for­mer Take­da pro­gram in Covid-19 and rheuma­toid arthri­tis.

coverage

Ocean Bio­med­ical

Type & Stage
IPO: Terms Set
CEO
Elizabeth Ng
ticker
OCEA
exchange
NASDAQ
Filed Date
9 June
Est Raise
$50M
Terms set
6.3 million shares at $7 to $9

snapshot

Not much is known about Ocean Bio­med­ical, but it’s kick­ing off its pub­lic quest with an ini­tial $100 mil­lion raise es­ti­mate, per their S-1. The com­pa­ny says its busi­ness mod­el is cen­tered around a “li­cens­ing and sub­sidiary struc­ture,” al­low­ing them to bet­ter lever­age re­la­tion­ships with­in acad­e­mia and VC firms. Its CEO is Eliz­a­beth Ng, a for­mer di­rec­tor of strat­e­gy de­vel­op­ment at Mer­ck who has al­so held se­nior po­si­tions at Gilead and Bio­Marin. Ocean’s pipeline cur­rent­ly con­sists of five pro­grams rang­ing from on­col­o­gy and in­fec­tious dis­ease to fi­bro­sis and in­flam­ma­tion. Brown Uni­ver­si­ty li­censed their NSCLC, glioblas­toma mul­ti­forme and pul­monary fi­bro­sis can­di­dates, while Rhode Is­land Hos­pi­tal li­censed their malar­ia vac­cine pro­gram. The in­flam­ma­tion can­di­date is seek­ing to treat Covid-19 by re­duc­ing cy­tokines and comes from Stan­ford. Keep­ing things close to the vest, Ocean did not say how it would spend its IPO funds, on­ly not­ing that one of its pro­grams will be mov­ing in­to a clin­i­cal tri­al with the raise. Ocean cut its ex­pect­ed IPO deal size by 43% on Ju­ly 26.

coverage

HCW Bi­o­log­ics

Type & Stage
IPO: Filed
CEO
Hing Wong
ticker
HCWB
exchange
NASDAQ
Filed Date
28 May
Est Raise
$50M

snapshot

This Mi­ra­mar, FL-based biotech is aim­ing to re­search the con­nec­tion be­tween chron­ic in­flam­ma­tion and ag­ing, coin­ing the buzzy and on­ly-in-Flori­da term “in­flam­mag­ing” to de­scribe its tar­gets. HCW has plans for four clin­i­cal tri­als to be up and run­ning by the end of the year, with two al­ready on­go­ing and two ex­pect­ed to launch. All four stud­ies are cen­tered around the lead can­di­date HCW9201, which the biotech hopes will be able to spur the gen­er­a­tion of mem­o­ry-like NK cells. The pro­gram was co-de­vel­oped with re­searchers at Wash­ing­ton Uni­ver­si­ty in St. Louis, and the ini­tial tar­get in­di­ca­tion is re­lapsed/re­frac­to­ry acute myeloid leukemia. IPO funds will go to­ward launch­ing the new tri­als in pan­cre­at­ic can­cer and oth­er sol­id tu­mor in­di­ca­tions, in ad­di­tion to pre­clin­i­cal stud­ies and a Phase I alope­cia area­ta tri­al for a sec­ond pro­gram.

coverage

Con­text Ther­a­peu­tics

Type & Stage
IPO: Filed
CEO
Martin Lehr
ticker
CNTX
exchange
NASDAQ
Filed Date
27 May
Est Raise
$15M

snapshot

Con­text is fo­cus­ing on can­cers found in women, in­clud­ing ovar­i­an, breast and en­dome­tri­al. They ex­pect to read out Phase II re­sults for its on­ly clin­i­cal can­di­date lat­er this year, for ovar­i­an can­cer pa­tients who ex­press high lev­els of prog­es­terone re­cep­tor. The com­pa­ny is al­so run­ning an­oth­er Phase II tri­al look­ing at the pro­gram in com­bi­na­tion with Arim­idex in PR+ en­dome­tri­al pa­tients, with da­ta ex­pect­ed in the first half of next year.

coverage

Spar­ta Health­care Ac­qui­si­tion

Type & Stage
SPAC: Filed
CEO
Michael Handley
ticker
SPTAU
exchange
NASDAQ
Filed Date
26 May
Est Raise
$100M

snapshot

The SPAC from Cy­to­com CEO Michael Han­d­ley filed for a $100 mil­lion raise for its shell com­pa­ny on May 26. Its syn­di­cate in­cludes Han­d­ley and Nicholas Hem­mer­ly, head of in­vest­ment bank­ing at Bridge­way Cap­i­tal Part­ners. The blank-check com­pa­ny will re­port­ed­ly fo­cus on mid-to-late stage clin­i­cal as­sets.

coverage

Lark­spur Health Ac­qui­si­tion

Type & Stage
SPAC: Filed
CEO
Daniel O'Connor
ticker
LSPRU
exchange
NASDAQ
Filed Date
13 May
Est Raise
$75M

snapshot

On­coSec Med­ical CEO Daniel O’Con­nor has filed the S-1 pa­per­work for his blank-check com­pa­ny. O’Con­nor is a for­mer crim­i­nal pros­e­cu­tor in Som­er­set Coun­ty, NJ, and was CEO of Ad­vax­is be­fore leav­ing the com­pa­ny abrupt­ly — and with­out of­fer­ing a rea­son — in 2017. He’s now lead­ing On­coSec’s ef­forts to de­vel­op an IL-12 can­cer ther­a­py that’s ac­ti­vat­ed by elec­tro­po­ra­tion, or a se­ries of mo­men­tary en­er­gy puls­es.

coverage

Sagimet Bio­sciences

Type & Stage
IPO: Filed
CEO
George Kemble
ticker
SGMT
exchange
NASDAQ
Filed Date
16 April
Est Raise
$75M

snapshot

For­mer­ly known as 3-V Bio­sciences, Sagimet fo­cus­es on de­vel­op­ing se­lec­tive FASN in­hibitors for liv­er dis­eases and can­cers in­clud­ing NASH, for which they re­leased pos­i­tive Phase II da­ta for the pro­gram TVB-2640 in June 2020. Sagimet said the can­di­date’s high dose had a 61% re­sponse rate across 30 pa­tients and led to a mean liv­er fat re­duc­tion of 28.2%. And this Feb­ru­ary, Sagimet pulled in an $80 mil­lion Se­ries F crossover to help launch a Phase IIb study for that pro­gram. The FASN en­zyme is in­volved in lipid syn­the­sis. In­hibit­ing it, in the­o­ry, could re­duce fat pro­duc­tion and al­le­vi­ate these tar­get dis­eases. Sagimet’s S-1 laid out a fair­ly vague plan for its IPO raise, not­ing on­ly that some funds will help the stud­ies and man­u­fac­tur­ing for TVB-2640, as well as launch­ing a first in-hu­man tri­al for an­oth­er pro­gram.

coverage

Gy­ro­scope Ther­a­peu­tics (with­drawn)

Type & Stage
IPO: Filed
CEO
Khurem Farooq
ticker
VISN
exchange
NASDAQ
Filed Date
16 April
Est Raise
$142M

snapshot

Gy­ro­scope post­poned its IPO just hours be­fore it was due to go pub­lic, in light of “mar­ket con­di­tions,” the com­pa­ny an­nounced May 7. The com­pa­ny lat­er with­drew its plans in ear­ly June. Pri­or to that, it had been look­ing to cap­i­tal­ize on its sig­nif­i­cant mo­men­tum from the first quar­ter. Back in Feb­ru­ary, the UK-based biotech post­ed an ear­ly win for its AMD gene ther­a­py, not­ing pa­tients who re­spond­ed to their GT005 can­di­date in a Phase I/II tri­al saw a 146% in­crease in an im­por­tant bio­mark­er and a de­crease in fur­ther down­stream bio­mark­ers. Then in March, Gy­ro­scope took that win to the bank in clos­ing a $148 mil­lion Se­ries C. Less than a month lat­er, Gy­ro­scope is push­ing for­ward to Nas­daq. The $100 mil­lion writ­ten out in their F-1 is like­ly a mod­est place­hold­er, giv­en the na­ture of their Se­ries C just a few weeks ago. The com­pa­ny plans to use a sig­nif­i­cant por­tion of its pro­ceeds to ad­vance GT005 in three stud­ies, as well as fund re­search in an­oth­er prod­uct known as GT011. GT005 is cur­rent­ly in two Phase II stud­ies for pa­tients with ge­o­graph­ic at­ro­phy, an ir­re­versible de­gen­er­a­tion of reti­nal cells caused by dry-AMD. The can­di­date is in­ject­ed un­der the reti­na to in­crease pro­duc­tion of the Com­ple­ment Fac­tor I pro­tein, which Gy­ro­scope be­lieves could damp­en an over­ac­tive com­ple­ment sys­tem that’s been tied to wors­en­ing at­ro­phy in AMD pa­tients.

coverage

Arti­va Bio­ther­a­peu­tics

Type & Stage
IPO: Filed
CEO
Fred Aslan
ticker
RTVA
exchange
NASDAQ
Filed Date
8 April
Est Raise
$100M

snapshot

Un­til ear­li­er this year, Arti­va didn’t have much of a pro­file in bio­phar­ma land. For­mer Bel­licum CEO Tom Far­rell had as­sem­bled an NK cell ther­a­py com­pa­ny, lean­ing heav­i­ly on a “huge­ly im­pres­sive” man­u­fac­tur­ing fa­cil­i­ty be­long­ing to Green Cross Lab­Cell in Ko­rea, gath­ered $78 mil­lion in Se­ries A mon­ey and did the news rounds last June, then stayed large­ly qui­et. That changed when Mer­ck signed a col­lab­o­ra­tion worth near­ly $2 bil­lion in mile­stones to pick up the off-the-shelf NK cell tech. Arti­va quick­ly fol­lowed up with a $120 mil­lion Se­ries B, de­signed to kick­start Phase I/II for its lead pro­gram in non-Hodgkin’s lym­phoma. The part­ner­ship deal, Arti­va re­vealed in its S-1, gave GC Lab­Cell a 28% stake in the biotech, al­most dou­ble the hold­ings of 5AM Ven­tures, ven­Bio, RA Cap­i­tal and more than quadru­ple what Ven­rock has.

coverage

PRICED

Tyra Bio­sciences

Type & Stage
IPO: Priced
CEO
Todd Harris
ticker
TYRA
exchange
NASDAQ
IPO Date
15 September
Total Raised
$173M
Priced at
$16
Current Price
$18.48

snapshot

Based out of Carls­bad, CA, Tyra pen­ciled in a $100 mil­lion ask, com­ing less than five months af­ter it com­plet­ed a $106 mil­lion Se­ries B. But the ul­ti­mate raise proved greater than the ini­tial es­ti­mate, com­ing in at $173 mil­lion. The biotech has yet to get any of its ex­per­i­men­tal drugs in­to hu­man test­ing, with the lead pro­gram for blad­der can­cer ex­pect­ed to see an IND fil­ing in mid-2022. Tyra’s stat­ed goals all deal with en­sur­ing can­cer pa­tients can con­tin­ue tar­get­ed treat­ment should their tu­mors mu­tate or see their ther­a­pies stop work­ing. The biotech has de­vel­oped a plat­form it calls SNAP, which in­volves shoot­ing X-ray beams to dis­cov­er the three-di­men­sion­al struc­ture of a par­tic­u­lar pro­tein. It’s not a new ap­proach, but Tyra is hop­ing to dif­fer­en­ti­ate it­self with a team that re­peat­ed­ly looks over the mod­els sev­er­al times per week, get­ting as close to an atom-by-atom per­spec­tive of its can­di­dates’ bind­ing process as it can. The pipeline as a whole will be tar­get­ed at the fi­brob­last growth fac­tor re­cep­tor, or FGFR, fam­i­ly, with the lead pro­gram start­ing off at FGFR3.

 

coverage

DiCE Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Kevin Judice
ticker
DICE
exchange
NASDAQ
IPO Date
15 September
Total Raised
$204M
Priced at
$17
Current Price
$32.77

snapshot

Kevin Ju­dice tipped his hand when DiCE Mol­e­cules put out a terse re­lease about rais­ing $60 mil­lion in Au­gust. An en­thu­si­as­tic ad­vo­cate of his work on an oral IL-17 drug to ri­val Cosen­tyx and Taltz, a pair of block­buster an­ti­bod­ies, Ju­dice wouldn’t have passed up on a chance to spot­light the com­pa­ny. So his no­table si­lence made it pret­ty clear that an IPO was in the works. Reg­u­la­tors de­mand si­lence in those sit­u­a­tions, and RA’s in­volve­ment — a com­mon fea­ture in many a crossover — put the ic­ing on that cake. The fil­ing did give up some se­crets on the com­pa­ny. Roche’s Genen­tech had stepped in to part­ner with DiCE, but we found that the deal end­ed in June af­ter on­ly $6 mil­lion in pay­ments. Sanofi paid more, an­te­ing up $9 mil­lion and adding $9 mil­lion more in a deal with up to $200 mil­lion in mile­stones. DiCE is an ap­pro­pri­ate name for the com­pa­ny, as it’s still in pre­clin­i­cal de­vel­op­ment af­ter fo­cus­ing its lead on a well-un­der­stood in­flam­ma­to­ry sig­nal­ing path­way. But so far this year, in­vestors have main­tained a strong in­ter­est in biotechs — in­clud­ing those who on­ly have an­i­mal da­ta to re­port.

coverage

Der­ma­ta Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Gerry Proehl
ticker
DRMA
exchange
NASDAQ
IPO Date
13 August
Total Raised
$18M
Priced at
$7
Current Price
$5.58

snapshot

Can a fresh­wa­ter sponge be used to treat skin con­di­tions like ac­ne, pso­ri­a­sis and rosacea? That’s what Der­ma­ta wants to find out. The com­pa­ny’s plat­form is based on the use of Spongilla la­cus­tris, a nat­u­ral­ly grow­ing fresh­wa­ter sponge that’s tra­di­tion­al­ly used as a folk med­i­cine for var­i­ous in­flam­ma­to­ry con­di­tions. How­ev­er, Der­ma­ta be­lieves Spongilla’s nat­ur­al de­fense mech­a­nisms could prove use­ful in treat­ing skin con­di­tions, like ac­ne vul­garis. Those mech­a­nisms in­clude mi­cro­scop­ic siliceous spicules that are unique­ly sized to pen­e­trate the skin, cre­at­ing mi­crochan­nels for the sponge’s nat­u­ral­ly oc­cur­ring chem­i­cals or oth­er macro­mol­e­cules to pen­e­trate in­to the der­mis. The spicules are al­so be­lieved to open black­heads and pro­mote col­la­gen pro­duc­tion, which could ac­cel­er­ate re­ju­ve­na­tion of the skin. While Spongilla grows in rivers and lakes in the north­ern hemi­sphere, there are a lim­it­ed num­ber of places in which it grows in a large enough quan­ti­ty to be used as a raw ma­te­r­i­al, Der­ma­ta said in its S-1. How­ev­er, the com­pa­ny has picked out a spot in cen­tral Rus­sia to har­vest the sponge.

coverage

Eliem Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Bob Azelby
ticker
ELYM
exchange
NASDAQ
IPO Date
10 August
Total Raised
$80M
Priced at
$12.5
Current Price
$15.83

snapshot

Eliem Ther­a­peu­tics is aim­ing to com­plete a quick rise to Nas­daq af­ter launch­ing at the end of March. There had been signs of an IPO af­ter the biotech’s $60 mil­lion Se­ries B, when com­pa­ny spokes­peo­ple de­clined in­ter­view re­quests ahead of the fil­ing. Eliem like­ly rep­re­sents one of the fastest Nas­daq push­es for biotech in re­cent mem­o­ry, go­ing from launch to fil­ing for an IPO in less than four months. Should it price, Eliem will have a pipeline of four neu­ro as­sets led by a pro­drug of an en­do­cannabi­noid known as palmi­toylethanolamide, or PEA. The can­di­date is known as ETX-810, and CSO Va­lerie Moris­set pre­vi­ous­ly told End­points the biotech is look­ing at a va­ri­ety of chron­ic pain in­di­ca­tions. ETX-810 is cur­rent­ly in two Phase IIa stud­ies look­ing at di­a­bet­ic pe­riph­er­al neu­ro­path­ic pain and lum­bosacral radic­u­lar pain. Da­ta read­outs are ex­pect­ed for the first half of 2022. Eliem is al­so de­vel­op­ing a GA­BA-pos­i­tive al­losteric mod­u­la­tor, which the com­pa­ny is call­ing ETX-155. Re­searchers plan to take this pro­gram in­to two Phase IIa stud­ies for ma­jor de­pres­sive dis­or­der and hor­mone-re­lat­ed de­pres­sive dis­or­ders, as well as a Phase Ib tri­al for epilep­sy. Da­ta here are ex­pect­ed in the sec­ond half of 2022 and the first half of 2023, re­spec­tive­ly. Both pro­grams come from RA Cap­i­tal, where the biotech was in­cu­bat­ed.

coverage

EQRx

Type & Stage
SPAC: To Merge
CEO
Eli Casdin
ticker
CMLTU
exchange
NASDAQ
SPAC Raise
$552M
Total Deal Size
$1752
Current Price
$10.23
Announced
6 August

snapshot

Eli Cas­din and Kei­th Meis­ter’s third SPAC hopped to Nas­daq with a mas­sive $552 mil­lion haul and priced April 7. The Cas­din and Meis­ter ef­fort, known as CM Life Sci­ences III, came just a few weeks af­ter their sec­ond SPAC an­nounced its in­tent to merge with So­ma­Log­ic, one of a num­ber of pro­teomics biotechs look­ing to un­der­stand the hu­man body by look­ing at pro­teins rather than DNA and RNA. That deal net­ted the com­pa­ny a val­u­a­tion north of $1.2 bil­lion. On Au­gust 6, the SPAC an­nounced it would be re­verse merg­ing with EQRx in a near­ly $1.8 bil­lion deal, which val­ued EQRx at $3.65 bil­lion pre-mon­ey. The merg­er made it an overnight uni­corn and one of the rich­est day-one val­u­a­tions for biotech this year. The deal is ex­pect­ed to close in Q4. Cas­din and Meis­ter have gone all in on SPACs since the sum­mer of 2020. Since the an­nounce­ment of their first SPAC back in Sep­tem­ber, the pair have merged their first two SPACs with So­ma­Log­ic and Se­ma4.

coverage

Ada­gio Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Tillman Gerngross
ticker
ADGI
exchange
NASDAQ
IPO Date
5 August
Total Raised
$309.4M
Priced at
$17
Current Price
$45.09

snapshot

Till­man Gern­gross is of the opin­ion that he need­ed to start an an­ti­body com­pa­ny to go af­ter in­fec­tious dis­eases, with SARS-CoV-2 in his sights. He spells it out in Ada­gio’s S-1. He raised $470 mil­lion from some deep-pock­et A-lis­ters — in less than a year from launch — and now has the IPO in play. Though the $100 mil­lion is in as a place­hold­er for now, his last ven­ture round was $336 mil­lion. The IPO of­fers the in­dus­try some in­sights on not just what he’s think­ing, but how oth­er new in­fec­tious dis­ease play­ers like Vir are fac­tor­ing the lat­est wave of in­fec­tions from the Delta vari­ant now whit­tling down the ef­fi­ca­cy of some of the few vac­cines now ap­proved in af­flu­ent na­tions. From their per­spec­tive, a blend of vac­cine hes­i­tan­cy and deep re­sis­tance will keep the coun­tries first in line for vac­cines vul­ner­a­ble to the more pow­er­ful vari­ants like Delta, which are al­ready spread­ing like wild­fire, and the pan­dem­ic will be­come en­dem­ic, runs the Ada­gio ar­gu­ment. Es­pe­cial­ly af­ter the first round of an­ti­bod­ies from Eli Lil­ly quick­ly fiz­zled. For oth­ers, the IV ad­min­is­tra­tion makes them dif­fi­cult to ad­min­is­ter on a mass scale. Ada­gio wants to over­come that last part with a new an­ti­body ap­proach — ADG20 — that works with a sin­gle in­tra­mus­cu­lar in­jec­tion. Their re­search team has al­ready ob­tained a snap­shot of ac­tiv­i­ty from the Phase I, and they’re piv­ot­ing straight to the Phase II/III.

coverage

Rani Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Talat Imran
ticker
RANI
exchange
NASDAQ
IPO Date
30 July
Total Raised
$73.3M
Priced at
$11
Current Price
$17.81

snapshot

The big idea at Rani in­volves re­for­mu­lat­ing in­jectable and IV drugs in­to pills, which isn’t en­tire­ly a new con­cept. But Rani is tak­ing a dif­fer­ent ap­proach with a spe­cial en­teric coat­ing that pro­tects the med­i­cine from the acidic en­vi­ron­ment of the stom­ach. Once the pill reach­es the in­testines as pH lev­els rise, the coat­ing dis­solves and a chem­i­cal re­ac­tion push­es the med­i­cine in­to the in­testi­nal walls. Rani’s lead pro­gram aims to ac­com­plish this con­ver­sion with oc­treotide, an off-patent bi­o­log­ic that treats the hor­mon­al dis­or­der acromegaly. The in­jectable drug is cur­rent­ly ap­proved by both the FDA and EMA, and the biotech saw the Phase I re­sults it was look­ing for in Jan­u­ary 2020. A 58-per­son study in healthy vol­un­teers demon­strat­ed a 65% “bioavail­abil­i­ty” for the pill rel­a­tive to the in­jectable. Be­yond oc­treotide, Rani is aim­ing to de­vel­op TN­Fα in­hibitors, hu­man growth hor­mone pep­tides and GLP-1 analogs.

coverage

Omega Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Mahesh Karande
ticker
OMGA
exchange
NASDAQ
IPO Date
30 July
Total Raised
$125.8M
Priced at
$17
Current Price
$17.06

snapshot

Flag­ship Pi­o­neer­ing’s start­up Omega Ther­a­peu­tics has plans to ad­vance its lead can­di­date for the c-myc onco­gene in­to hu­man test­ing and es­tab­lish a man­u­fac­tur­ing foot­print, cap­i­tal­iz­ing on a large fundrais­ing round from March. The com­pa­ny start­ed around the chal­lenge of cre­at­ing the mas­sive nu­cle­ic acid se­quence changes that come with gene ther­a­py and gene edit­ing. By send­ing ef­fec­tor pro­teins to what are known as dys­reg­u­lat­ed “in­su­lat­ed ge­nom­ic do­mains,” Omega looks to cre­ate a con­trolled epi­ge­net­ic pro­gram­ming plat­form for the con­trol room of hu­man bi­ol­o­gy. On March 30, the com­pa­ny from Cam­bridge, MA raised $126 mil­lion in its Se­ries C fi­nanc­ing round, putting it over $210 mil­lion since its in­cep­tion in 2016. The com­pa­ny has five pro­grams lined up for can­cer, in­flam­ma­tion, au­toim­mune, meta­bol­ic and rare ge­net­ic dis­eases.

coverage

Im­muneer­ing

Type & Stage
IPO: Priced
CEO
Ben Zeskind
ticker
IMRX
exchange
NASDAQ
IPO Date
30 July
Total Raised
$112.5M
Priced at
$15
Current Price
$25.41

snapshot

Ahead of an an­tic­i­pat­ed IND ap­pli­ca­tion, Im­muneer­ing — a pre­clin­i­cal biotech aimed at treat­ing can­cer and neu­ro­log­i­cal dis­eases— filed its S-1 with the SEC. The com­pa­ny’s on­col­o­gy pro­grams tar­get mu­ta­tions of the MAPK and mTOR path­ways, which run par­al­lel to each oth­er and get ac­ti­vat­ed in more than half of can­cers. Im­muneer­ing has kept a low pro­file through a $17 mil­lion launch round in 2019, and an ad­di­tion­al $62 mil­lion ear­li­er in 2021. IMM-I-104, Im­muneer­ing’s lead pro­gram, is a dual-MEK in­hibitor that’s be­ing de­vel­oped to treat ad­vanced sol­id tu­mors that har­bor RAS mu­tant tu­mors. The com­pa­ny plans to sub­mit the IND in Q1 of 2022.

coverage

Max­Cyte

Type & Stage
IPO: Priced
CEO
Doug Doerfler
ticker
MXCT
exchange
NASDAQ
IPO Date
30 July
Total Raised
$176M
Priced at
$13
Current Price
$14.05

snapshot

Max­Cyte is al­ready trad­ing on Lon­don’s AIM, but is now seek­ing to hop over to Nas­daq. Max­Cyte’s tech­nol­o­gy us­es elec­tro­po­ra­tion, which ap­plies an elec­tric field to tem­porar­i­ly in­crease the per­me­abil­i­ty of the cell mem­brane and al­low in­tra­cel­lu­lar de­liv­ery of mol­e­cules, such as ge­net­ic ma­te­r­i­al and pro­teins. The com­pa­ny went on a hir­ing spree in Oc­to­ber 2020, with the pro­mo­tion of Brad Calvin to chief com­mer­cial of­fi­cer, and brought in Sarah Haeck­er Meeks to be­come the VP of busi­ness de­vel­op­ment and Steve Nar­di to the role of VP of man­u­fac­tur­ing and en­gi­neer­ing op­er­a­tions.

coverage

IN8bio

Type & Stage
IPO: Priced
CEO
William Ho
ticker
INAB
exchange
NASDAQ
IPO Date
30 July
Total Raised
$40M
Priced at
$10
Current Price
$6.87

snapshot

Af­ter post­pon­ing its plans for a pub­lic de­but back in No­vem­ber 2020, IN8bio says it’s fi­nal­ly ready for Wall Street, set­ting the terms for a $44 mil­lion IPO. IN8bio plans to of­fer 4 mil­lion shares at a $10 to $12 range. The com­pa­ny had ini­tial­ly filed in Oc­to­ber 2020 for an $86 mil­lion raise, with plans to of­fer $4.7 mil­lion shares at a range of $15 to $17 apiece. It didn’t of­fer any ex­pla­na­tion for the hold-up. IN8bio is work­ing on ge­net­i­cal­ly mod­i­fied gam­ma delta T cell ther­a­pies, with two Phase I can­di­dates for glioblas­toma and leukemia, re­spec­tive­ly. The com­pa­ny has tagged be­tween $8 and $13 mil­lion for INB-200, the glioblas­toma can­di­date, which is ex­pect­ed to pro­duce topline re­sults from a sec­ond co­hort lat­er this year. Be­tween $1 and $2 mil­lion will be set aside for INB-100, the leukemia can­di­date, which is set for a topline read­out from all Phase I co­horts in 2023, ac­cord­ing to the S-1/A. INB-200, the glioblas­toma can­di­date, is set for a topline read­out in a spe­cif­ic co­hort of pa­tients by the end of 2021. A topline read­out from all co­horts in the leukemia tri­al (for INB-100) isn’t ex­pect­ed un­til 2023. IN8bio al­so says it plans on fil­ing three INDs be­tween the first half of 2022 and 2023.

coverage

Tenaya Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Faraz Ali
ticker
TNYA
exchange
NASDAQ
IPO Date
30 July
Total Raised
$180M
Priced at
$15
Current Price
$18.17

snapshot

Back in March af­ter rais­ing a $106 mil­lion crossover, Tenaya CEO Faraz Ali played down the prospect of an IPO, stress­ing the biotech was think­ing less about op­por­tunis­ti­cal­ly jump­ing to Nas­daq and more on “feel­ing that our sci­ence has ar­rived.” It’s a mo­ment where all of Tenaya’s pro­grams are still in the pre­clin­i­cal phase, but at least two are ex­pect­ed to see INDs some­time next year, ac­cord­ing to the S-1. That in­cludes their lead can­di­date, which is tar­get­ing ge­net­ic hy­per­trophic car­diomy­opa­thy due to mu­ta­tions in the MYBPC3 gene. Tenaya is aim­ing to uti­lize an AAV gene ther­a­py for treat­ment in both adults and chil­dren. There’s al­so a small mol­e­cule can­di­date for heart fail­ure with pre­served ejec­tion frac­tion, and Tenaya will steer most of its IPO funds to­ward these ex­per­i­men­tal med­i­cines. Both pro­grams rep­re­sent Tenaya’s over­all mis­sion of ex­am­in­ing how fresh sources of re­gen­er­a­tive cells could po­ten­tial­ly re­pair a dam­aged heart. Most of the ef­forts have gone to­ward gene ther­a­py, with at least three oth­er can­di­dates com­ing up be­hind the lead. But Tenaya is ad­di­tion­al­ly look­ing in­to pre­ci­sion med­i­cine and cel­lu­lar re­gen­er­a­tion ap­proach­es.

coverage

Icosavax

Type & Stage
IPO: Priced
CEO
Adam Simpson
ticker
ICVX
exchange
NASDAQ
IPO Date
29 July
Total Raised
$182M
Priced at
$15
Current Price
$26

snapshot

Icosavax’s tech­nol­o­gy comes out of Neil King’s lab at the Uni­ver­si­ty of Wash­ing­ton, where his team built on years-old re­search of how some vi­ral pro­teins could spon­ta­neous­ly as­sem­ble them­selves. Their work re­sult­ed in what’s es­sen­tial­ly a virus-like par­ti­cle shaped like a soc­cer ball — the “white” parts mak­ing up the struc­ture and the “black” spots rep­re­sent­ing the dis­played anti­gens, King told End­points in April. It’s the same tech King is us­ing to de­vel­op a “su­per-sea­son­al” flu vac­cine with the NIH, though Icosavax is not in­volved in that re­search. The biotech’s bi­va­lent vac­cine pro­gram, which will soak up most of the IPO cash, is go­ing af­ter res­pi­ra­to­ry syn­cy­tial virus and hu­man metap­neu­movirus. Icosavax’s plan is to start with the RSV “soc­cer ball” and then lay­er the hM­PV vac­cine on top of it as the new funds will help com­plete a Phase IIb study for the pro­gram. It’s not yet clear when the da­ta from this can­di­date will be ready, how­ev­er, as it’s not ex­pect­ed to be­gin a Phase I study un­til the sec­ond half of 2022. Oth­er IPO funds will be di­rect­ed to­ward the biotech’s Covid-19 vac­cine, with Icosavax look­ing to wrap up a Phase I/II tri­al thanks to the in­com­ing wind­fall.

 

 

coverage

Rally­bio

Type & Stage
IPO: Priced
CEO
Martin Mackay
ticker
RLYB
exchange
NASDAQ
IPO Date
29 July
Total Raised
$81M
Priced at
$13
Current Price
$12.33

snapshot

Mar­tin Mack­ay got Rally­bio start­ed back in 2018 af­ter three decades work­ing in Big Phar­ma and big biotechs like Alex­ion. He re­cruit­ed two oth­er long­time Alex­ion vets fol­low­ing the com­pa­ny’s 2017 purge to launch his new biotech, with an eye on rare dis­eases. Mack­ay’s crew first dis­closed their tar­gets in May 2020, de­clar­ing a lead pro­gram for FNAIT, or fe­tal and neona­tal al­loim­mune throm­bo­cy­tope­nia. It’s a rare con­di­tion in which a fe­tus has anti­gens on platelet cells that a moth­er lacks, lead­ing to the moth­er’s body mount­ing an im­mune re­sponse that can po­ten­tial­ly cause fe­tal brain bleed­ing. Rally­bio is go­ing af­ter a pre­ven­ta­tive mea­sure with their RLYB211 can­di­date, hop­ing to give moth­ers a poly­clon­al an­ti-HPA-1a an­ti­body to tamp down on that im­mune re­sponse ear­ly in preg­nan­cies. The key will be iden­ti­fy­ing at-risk pa­tients, co-founder Stephen Uden told End­points at the time, as Rally­bio hopes to add the screen­ing to part of the rou­tine rare dis­ease tests women re­ceive dur­ing preg­nan­cy. Funds from the IPO raise are ex­pect­ed to be steered to­ward this pro­gram, with the S-1 not­ing it will be enough to com­plete the Phase I/II study as well as Phase I and Phase Ib tri­als for the sub­cu­ta­neous ver­sion RLYB212 that’s ex­pect­ed to en­ter the clin­ic in the first quar­ter of next year.

coverage

Nu­va­lent

Type & Stage
IPO: Priced
CEO
James Porter
ticker
NUVL
exchange
NASDAQ
IPO Date
29 July
Total Raised
$166M
Priced at
$17
Current Price
$26.62

snapshot

Less than six months af­ter emerg­ing from stealth, the Deer­field-backed biotech Nu­va­lent is al­ready prep­ping a jump to Nas­daq. It’s a big win for Deer­field, which placed a big wa­ger on the com­pa­ny ear­li­er this year in launch­ing Nu­va­lent to the tune of a $50 mil­lion Se­ries A. The blue chip firm owns more than 65% of shares pre-IPO. Nu­va­lent got start­ed based on solv­ing a prob­lem that can some­times oc­cur in tar­get­ed can­cer ther­a­pies, where the tar­get is al­ways chang­ing. Even though new­er gen­er­a­tions of drugs can ap­pear to hit the tar­get, mu­ta­tions will usu­al­ly pop up that thwart the ther­a­pies from ac­com­plish­ing their mis­sions. Har­vard pro­fes­sor Matt Shair, founder and head sci­en­tif­ic ad­vi­sor of Nu­va­lent, be­lieves chem­istry can evolve fast enough to keep pace with the dis­eases, he told End­points News in Jan­u­ary. While in stealth, he pushed the biotech to uti­lize struc­ture-based drug de­sign to de­vel­op two com­pounds that tar­get the tu­mor dri­vers ROS1 and ALK for the clin­ic. That ap­proach, Shair said, is com­ple­ment­ed with Nu­va­lent’s ef­forts to seek out physi­cian in­put for what kinds of prop­er­ties they want in a drug. Both pro­grams have yet to reach their first in-hu­man stud­ies, but IPO funds are ex­pect­ed to help launch Phase I por­tions of planned Phase I/II stud­ies for each can­di­date and push them through to com­ple­tion.

coverage

Can­del Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Paul Peter Tak
ticker
CADL
exchange
NASDAQ
IPO Date
27 July
Total Raised
$72M
Priced at
$8
Current Price
$9.96

snapshot

For close to two decades, the com­pa­ny that would even­tu­al­ly be­come Can­del Ther­a­peu­tics had worked un­der the radar on on­colyt­ic virus­es. But now that it’s emerged from stealth with a new name, wooed Glax­o­SmithK­line vet Paul Pe­ter Tak to be CEO and set its first Phase III to sail, it is mak­ing good use of the lime­light. On­colyt­ic virus­es come with a check­ered his­to­ry. Am­gen’s Im­ly­g­ic re­mains the on­ly ap­proved prod­uct in the space, stand­ing out among a slew of fail­ures. Still, Can­del — and they’re not alone — reck­ons it rep­re­sents “one of the most promis­ing can­cer treat­ment modal­i­ties to­day.” The core idea is el­e­gant: If you can di­rect a non-repli­cat­ing virus to tu­mors, you can kill some can­cer cells and cause enough dam­age to star­tle the im­mune sys­tem in­to ac­tion, both at the lo­cal site and to metas­tases. Can­del’s pitch is to find the op­ti­mal virus to achieve this while adding a twist: use the virus as a vec­tor to de­liv­er trans­genes for an en­zyme, which would then con­vert a com­pan­ion small mol­e­cule pro­drug in­to can­cer killing mode. Hav­ing bagged a mod­est $66.1 mil­lion from ven­ture rounds — and burned through $48.6 mil­lion by late March — Can­del plans to chan­nel the IPO pro­ceeds di­rect­ly in­to those tri­als and fu­ture ones, as well as build­ing a new man­u­fac­tur­ing fa­cil­i­ty. Can­del low­ered its IPO deal size by 15% on Ju­ly 26.

coverage

Cari­bou Bio­sciences

Type & Stage
IPO: Priced
CEO
Rachel Haurwitz
ticker
CRBU
exchange
NASDAQ
IPO Date
23 July
Total Raised
$304M
Priced at
$16
Current Price
$24.27

snapshot

Cari­bou got its start in Jen­nifer Doud­na’s lab at Cal-Berke­ley, where CEO Rachel Hau­r­witz was Doud­na’s first grad­u­ate stu­dent to work on CRISPR. In 2011, they launched the com­pa­ny with James Berg­er, who’s now at the Johns Hop­kins School of Med­i­cine, and Mar­tin Jinek. What the com­pa­ny says sets it apart is its hy­brid DNA/RNA edit­ing plat­form, which Hau­r­witz calls chRD­NA (pro­nounced “chardon­nay,” like the wine). The biotech be­lieves the hy­brid guides can pre­vent off-tar­get edit­ing com­mon to cur­rent CRISPR ap­pli­ca­tions. Some of the IPO pro­ceeds will go to IND-en­abling ac­tiv­i­ties for Cari­bou’s oth­er two can­di­dates, CB-011 and CB-012. The for­mer tar­gets BC­MA for the treat­ment of re­lapsed/re­frac­to­ry mul­ti­ple myelo­ma and us­es “im­mune cloak­ing” to avoid the im­mune sys­tem. That can­di­date is ex­pect­ed to hit the clin­ic next year. CB-012 goes af­ter CD371, which Cari­bou says is an at­trac­tive tar­get for acute myeloid leukemia. The com­pa­ny is al­so look­ing to go be­yond on­col­o­gy, and they’re ex­plor­ing the ar­eas of im­mune cell ther­a­py, iP­SC, and in vi­vo-gene edit­ing. In Feb­ru­ary, Ab­b­Vie shelled out $40 mil­lion up­front with an­oth­er $300 mil­lion in biobucks for two of the biotech’s al­lo­gene­ic CAR-Ts.

 

coverage

Sophia Ge­net­ics

Type & Stage
IPO: Priced
CEO
Jurgi Camblong
ticker
SOPH
exchange
NASDAQ
IPO Date
23 July
Total Raised
$234M
Priced at
$18
Current Price
$17.6

snapshot

Sophia’s IPO marks the end of a long jour­ney in the pri­vate sec­tor for CEO Ju­r­gi Cam­b­long, who spent most of the biotech’s first nine years go­ing from one small raise to an­oth­er. But with the in­dus­try push to­ward big da­ta and ge­nomics, Cam­b­long is po­si­tion­ing Sophia to be a stand­out AI part­ner for drug de­vel­op­ers. The ul­ti­mate goal is to “be in the po­si­tion of Google,” he told End­points at the time of Sophia’s Oc­to­ber 2020 raise. And while his pitch strikes a fa­mil­iar tone of be­ing able to ag­gre­gate and sort through moun­tains of new da­ta to pro­vide clin­i­cal in­sights, Sophia is aim­ing to dif­fer­en­ti­ate it­self based on its sheer size. Through­out the last decade, Sophia has list­ed at least 1,000 hos­pi­tals as al­ready us­ing their plat­form to track pa­tients, in­clud­ing hun­dreds in the US. The in­fra­struc­ture that’s in place can fur­ther pro­vide re­al-world da­ta rather than sim­ply fo­cus on ge­nomics, though Cam­b­long not­ed their bio­phar­ma busi­ness is still very new af­ter launch­ing in 2019.

 

coverage

Ab­sci

Type & Stage
IPO: Priced
CEO
Sean McClain
ticker
ABSI
exchange
NASDAQ
IPO Date
23 July
Total Raised
$200M
Priced at
$16
Current Price
$11.13

snapshot

CEO Sean Mc­Clain start­ed Ab­sci as a 22-year-old col­lege grad­u­ate in a small base­ment lab — or as he called it, a “dun­geon lab” — in down­town Port­land, OR. Ten years lat­er, he’s tak­ing the com­pa­ny pub­lic. What start­ed as Mc­Clain’s search for a more ef­fi­cient way to man­u­fac­ture pro­teins in E. coli has led to the biotech’s pro­tein print­ing plat­form, which the team hopes can short­en the R&D process. They’ve moved out of the base­ment lab, and Mc­Clain said back in April that he plans to in­crease the staff to 225 by the end of this year. Ab­sci went com­mer­cial in 2018 with its E. coli ex­pres­sion plat­form, SoluPro, for pro­duc­ing sol­u­ble, com­plex pro­teins in high yields. The fol­low­ing year, it in­tro­duced its pro­tein print­ing plat­form, which builds on SoluPro with tech­nol­o­gy de­signed to pump out high-di­ver­si­ty strain li­braries and high-through­put screen­ing as­says. Ab­sci land­ed a $125 mil­lion crossover round back in March, and plans on us­ing the IPO pro­ceeds to ex­pand its plat­form, ac­cord­ing to an S-1 fil­ing. The biotech has part­nered with more than a dozen com­pa­nies, rang­ing from Mer­ck and Astel­las to a host of small­er play­ers.

coverage

Gele­sis

Type & Stage
SPAC: To Merge
CEO
Yishai Zohar
ticker
GLS
exchange
NASDAQ
SPAC Raise
$376M
Total Deal Size
$476
Current Price
Unknown
Announced
19 July

snapshot

De­vel­op­ing weight-man­age­ment pills that are on the cusp of a na­tion­al roll­out, PureTech-found­ed Gele­sis will re­verse merge with Cap­star Spe­cial Pur­pose Ac­qui­si­tion Corp., the en­ti­ties an­nounced Mon­day morn­ing. The deal will give Gele­sis ac­cess to the $376 mil­lion raised from the SPAC, as well as an­oth­er $100 mil­lion in PIPE fund­ing. The merg­er is ex­pect­ed to close be­fore the end of 2021 with Gele­sis earn­ing a pro for­ma im­plied val­ue of $1.3 bil­lion with the deal. Gele­sis de­cid­ed to go with a SPAC rather than a more tra­di­tion­al IPO, CEO Yishai Zo­har told End­points News in an in­ter­view, be­cause it high­ly val­ued the SPAC team’s com­mer­cial ex­pe­ri­ence, which will aid in a rapid roll­out lat­er this year. That ex­per­tise comes from a syn­di­cate with a va­ri­ety of busi­ness ex­pe­ri­ence. Cap­star’s CEO is R. Steven Hicks, a Texas tele­com mag­nate whose for­mer com­pa­ny AMFM is the US’ largest ra­dio sta­tion op­er­a­tor with more than 450 sta­tions na­tion­wide. There’s al­so lead di­rec­tor Ro­dri­go de la Torre, the head of fi­nance and strat­e­gy for Taco Bell Glob­al since April 2019 who pre­vi­ous­ly served in a se­nior role at Piz­za Hut In­ter­na­tion­al. Some of the SPAC cash is al­so slat­ed to ramp up man­u­fac­tur­ing of the pills, which are brand­ed un­der the name Plen­i­ty.

coverage

TScan Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
David Southwell
ticker
TCRX
exchange
NASDAQ
IPO Date
16 July
Total Raised
$100M
Priced at
$15
Current Price
$6.19

snapshot

TScan’s planned leap to Nas­daq is com­ing just three months af­ter the biotech pulled in a nine-fig­ure crossover round in Jan­u­ary, which at­tract­ed high-pro­file firms Black­Rock and RA Cap­i­tal Man­age­ment. The Har­vard Uni­ver­si­ty spin­out is build­ing a repos­i­to­ry of clin­i­cal­ly-ac­tive TCRs us­ing its high-through­put whole genome dis­cov­ery plat­form. The com­pa­ny had com­pared it to a vend­ing ma­chine or a li­brary of sorts, be­fore fi­nal­ly set­tling on the term “bank,” CEO David South­well said at the time of the crossover. TScan’s ap­proach comes from the lab of Har­vard pro­fes­sor Stephen Elledge, who set out years ago to screen anti­gen-TCR match­es in a faster, more sys­tem­at­ic way. He spent 7 years putting to­geth­er the tech for a plat­form that could run mul­ti­ple TCRs against anti­gen epi­topes and pin­point the ex­act pairs that ap­pear to in­ter­act. Now, what be­gan as 96 plates in Elledge’s lab has trans­formed in­to a com­pa­ny that has raised $180 mil­lion to date and at­tract­ed the likes of No­var­tis. The biotech plans to sub­mit INDs for its lead two liq­uid tu­mor can­di­dates in the fourth quar­ter, and at least three of its four sol­id tu­mor can­di­dates in the sec­ond half of 2022.

coverage

Ima­go Bio­Sciences

Type & Stage
IPO: Priced
CEO
Hugh Rienhoff
ticker
IMGO
exchange
NASDAQ
IPO Date
16 July
Total Raised
$134M
Priced at
$16
Current Price
$19.2

snapshot

Back in No­vem­ber, Ima­go pulled in an $80 mil­lion crossover round that CEO Hugh Rien­hoff said would lead to a pub­lic de­but some­time this year, and that came to fruition in late June. They’re look­ing to cre­ate small mol­e­cules that tar­get ly­sine-spe­cif­ic demethy­lase 1 (LSD1), an en­zyme that plays a role in the pro­duc­tion of blood cells in the bone mar­row. The com­pa­ny read out pos­i­tive Phase II re­sults in mid-June for its lead can­di­date, bomedem­stat, in bone mar­row can­cers. In the study, 10 out of 12 pa­tients with es­sen­tial throm­bo­cythemia, a rare dis­or­der in which the body pro­duces too many platelets, dosed for more than six weeks showed a sig­nif­i­cant re­duc­tion of platelet counts. The drop hap­pened while pa­tients main­tained sta­ble he­mo­glo­bin lev­els, the com­pa­ny said. And in a sep­a­rate study in pa­tients with ad­vanced myelofi­bro­sis — a type of bone can­cer that dis­rupts the body’s nor­mal pro­duc­tion of blood cells — 94% of pa­tients showed a re­duc­tion of 50% or more in symp­toms. Up­on un­veil­ing the com­pa­ny’s Se­ries C in No­vem­ber, CBO Ed Barac­chi­ni told End­points News that the best-case sce­nario would be to launch both Phase III stud­ies in mid-2022. Ac­cord­ing to the S-1, Ima­go plans on de­vel­op­ing bomedem­stat and oth­er LSD1-tar­get­ing can­di­dates for oth­er in­di­ca­tions such as poly­cythemia ve­ra, he­mo­glo­binopathies and sol­id tu­mors.

 

coverage

Pre­net­ics

Type & Stage
SPAC: To Merge
CEO
Danny Yeung
ticker
ARTAU
exchange
NASDAQ
SPAC Raise
$339M
Total Deal Size
$399
Current Price
$10.04
Announced
15 July

snapshot

Pre­net­ics will re­port­ed­ly hop on­to Nas­daq through a SPAC, CN­BC re­port­ed on Ju­ly 15, in a deal that will val­ue the biotech at $1.3 bil­lion. Found­ed by en­tre­pre­neur Dan­ny Ye­ung, Pre­net­ics will re­verse merge with the SPAC Ar­ti­san Ac­qui­si­tion, which comes from the CEO of the Hong Kong con­glom­er­ate New World De­vel­op­ment. In the deal, Pre­net­ics will get the $339 mil­lion raised in the SPAC, as well as an­oth­er $60 mil­lion in PIPE fi­nanc­ing. The merg­er is ex­pect­ed to be com­plet­ed by the end of 2021, CN­BC re­port­ed. Pre­net­ics could not be reached for com­ment. News of the deal came from an anony­mous CN­BC source, who re­quest­ed not to be named to dis­cuss the in­for­ma­tion pub­licly. The biotech has gar­nered sig­nif­i­cant pub­lic­i­ty since the start of the Covid-19 pan­dem­ic thanks to its test­ing kits. Ye­ung, who serves as the CEO, has pre­vi­ous­ly boast­ed that Pre­net­ics’ Covid-19 kits are com­pa­ra­ble in ac­cu­ra­cy to lab-based PCR tests, bet­ter than anti­gen test­ing and can re­turn re­sults in 30 min­utes. Its tests, de­vel­oped by Uni­ver­si­ty of Ox­ford re­searchers, use a tech­nique in­volv­ing loop-me­di­at­ed isother­mal am­pli­fi­ca­tion, ac­cord­ing to a CN­BC re­port from No­vem­ber. Ear­li­er in the pan­dem­ic, Pre­net­ics dis­trib­uted tests in Hong Kong’s air­port and soon moved to Lon­don’s Heathrow Air­port. It’s re­port­ed­ly in dis­cus­sions with oth­er gov­ern­ments to ex­pand test­ing to oth­er air­ports.

coverage

Eras­ca

Type & Stage
IPO: Priced
CEO
Jonathan Lim
ticker
ERAS
exchange
NASDAQ
IPO Date
15 July
Total Raised
$300M
Priced at
$16
Current Price
$21.03

snapshot

Al­most a year af­ter ex­pand­ing an al­ready mas­sive Se­ries B round, Eras­ca has filed S-1 pa­pers in the hopes of ad­vanc­ing its name­sake mis­sion: eras­ing can­cer. CEO Jonathan Lim launched the com­pa­ny back in 2018, af­ter auc­tion­ing off his com­pa­ny Igny­ta to Roche for a tidy $1.7 bil­lion. For the first cou­ple of years, Lim re­leased few de­tails on what the com­pa­ny was work­ing on. Then at the be­gin­ning of this year, he un­veiled two pro­grams tar­get­ing pro­teins in a key can­cer sig­nal­ing path­way called RAS/MAPK. Eras­ca’s two clin­i­cal pro­grams in­clude ERAS-601, li­censed from NiKand Ther­a­peu­tics, and ERAS-007, ac­quired from ASN Prod­uct De­vel­op­ment. They both tar­get the RAS/MAPK path­way, which is be­hind as many as half of all sol­id tu­mors, ac­cord­ing to Eras­ca. When the path­way be­comes over­ac­tive, can­cer cells can grow in an un­con­trolled fash­ion. ERAS-601 and ERAS-007 in­hib­it SHP2 and ERK, re­spec­tive­ly: two pro­teins that act as “on/off switch­es” to the RAS/MAPK path­way. By tar­get­ing the pro­teins and clamp­ing down on the sig­nal­ing path­way, sci­en­tists be­lieve they can turn the RAS/MAPK switch “off,” shut­ting down can­cer cells’ abil­i­ty to grow and pro­lif­er­ate. The plan is to have four can­di­dates in the clin­ic with­in the next six quar­ters, and file an ad­di­tion­al IND every 12 to 18 months over the next five years.

coverage

Arya Sci­ences Ac­qui­si­tion V

Type & Stage
SPAC: Priced
CEO
Adam Stone
ticker
ARYE
exchange
NASDAQ
Priced Date
12 July
Total Raised
$130M

snapshot

Per­cep­tive’s Joseph Edel­man is no stranger to the hold­ing com­pa­nies that have now come to dom­i­nate the mar­ket,, as Arya V priced to be­come the firm’s fifth SPAC. The SPAC will tar­get North Amer­i­can and Eu­ro­pean life sci­ences and med­ical tech­nol­o­gy com­pa­nies in the $300 mil­lion to $500 mil­lion range with the po­ten­tial for $1 bil­lion or more in mar­ket cap, Per­cep­tive said in a re­lease. Per­cep­tive is, of course, no stranger to blank-check com­pa­nies, hav­ing tak­en four pre­vi­ous it­er­a­tions of ARYA on­to Nas­daq, most re­cent­ly in Feb­ru­ary. That month, Arya IV priced at $130 mil­lion and has yet to find its for­ev­er part­ner. Mean­while, the pre­vi­ous it­er­a­tion, Arya III, re­verse merged with Nau­tilus Biotech­nol­o­gy in Feb­ru­ary in a deal worth $350 mil­lion with the SPAC’s trust and PIPE fund­ing in­clud­ed.

coverage

TransCode Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Michael Dudley
ticker
RNAZ
exchange
NASDAQ
IPO Date
9 July
Total Raised
$25M
Priced at
$4
Current Price
$2.64

snapshot

Found­ed and led by CRO vet Michael Dud­ley, Boston-based TransCode Ther­a­peu­tics is fo­cused on de­liv­er­ing RNA drugs to where they are need­ed to kill can­cer, and they are am­bi­tious. All of their pro­grams are still in the pre­clin­i­cal stage, with the lead can­di­date de­signed to treat metasta­t­ic can­cer — mean­ing tu­mors in the breast, pan­creas, ovary, colon or even the brain. Ac­cord­ing to the com­pa­ny’s S-1, TransCode’s strat­e­gy seeks to over­come de­liv­ery chal­lenges by re­pur­pos­ing a par­ti­cle, which are used ex­ten­sive­ly in hu­mans for imag­ing pur­pos­es, to de­liv­er syn­thet­ic RNA mol­e­cules to can­cer cells. TransCode is al­so de­vel­op­ing a PD-L1 that they’re hop­ing to use for pan­cre­at­ic can­cer, melanoma, NSCLC and breast can­cer. For their next step, the com­pa­ny in­tends to ad­vance the lead pro­gram to the clin­ic for those suf­fer­ing from late-stage can­cer. In March 2020, TransCode re­ceived FDA guid­ance for their first pro­posed study as part of its pre-IND sub­mis­sion. TransCode set its terms on May 4 and slashed its val­u­a­tion by about 41%, per Re­nais­sance Cap­i­tal.

coverage

Acu­men Phar­ma­ceu­ti­cals

Type & Stage
IPO: Priced
CEO
Daniel O'Connell
ticker
ABOS
exchange
NASDAQ
IPO Date
1 July
Total Raised
$160M
Priced at
$16
Current Price
$15.55

snapshot

Acu­men Phar­ma­ceu­ti­cals is a se­cre­tive play­er, but giv­en its re­search in­to Alzheimer’s dis­ease, they could be un­der the spot­light more fre­quent­ly fol­low­ing the FDA’s con­tro­ver­sial de­ci­sion to ap­prove Bio­gen’s Aduhelm. Acu­men’s re­search deals with amy­loid-be­ta oligomers, and it notes in its S-1 — per­haps nod­ding to the Bio­gen de­ci­sion — that “based on decades of re­search and sup­port­ing ev­i­dence, AbOs have gained in­creas­ing sci­en­tif­ic ac­cep­tance as a pri­ma­ry tox­in in­volved in the ini­ti­a­tion and prop­a­ga­tion of AD pathol­o­gy.” The com­pa­ny not­ed the dis­tinc­tion be­tween amy­loid-be­ta monomers and amy­loid plaques as well. This re­search has cul­mi­nat­ed in a mon­o­clon­al an­ti­body called ACU193, co-de­vel­oped with Mer­ck, which launched a Phase I tri­al in the sec­ond quar­ter. Acu­men is look­ing for po­ten­tial ef­fects in ear­ly-stage pa­tients, seek­ing to en­roll those with mild de­men­tia or cog­ni­tive im­pair­ment in its study. Da­ta are ex­pect­ed by the fourth quar­ter of next year. Go­ing fur­ther than Ocean, Acu­men gave ex­act­ly ze­ro de­tails over how it would use the IPO raise. The “Use of Pro­ceeds” sec­tion of their S-1, while typ­i­cal­ly scant on specifics, un­usu­al­ly con­tains on­ly boil­er­plate lan­guage in Acu­men’s fil­ing.

 

coverage

So­cial Cap­i­tal Su­vret­ta Hold­ings Corp. I

Type & Stage
SPAC: Priced
CEO
Chamath Palihapitiya
ticker
DNAA
exchange
NASDAQ
Priced Date
30 June
Total Raised
$200M

snapshot

This SPAC comes from the out­spo­ken “Piped Piper of SPACs,” Chamath Pal­i­hapi­tiya. A for­mer Face­book ex­ec­u­tive and co-own­er of the NBA’s Gold­en State War­riors, Pal­i­hapi­tiya launched four SPACs all tar­get­ing dif­fer­ent sec­tors of biotech. Pal­i­hapi­tiya has been a promi­nent and in­flu­en­tial fig­ure in this realm, hav­ing pre­vi­ous­ly launched a slate of six SPACs span­ning mul­ti­ple in­dus­tries. Four of his firms have found part­ners thus far, in­clud­ing one that took fel­low bil­lion­aire Richard Bran­son’s space tourism com­pa­ny Vir­gin Galac­tic pub­lic. He’s on­ly grown his in­flu­ence since the start of the Covid-19 pan­dem­ic, cul­ti­vat­ing a large au­di­ence of stuck-at-home mil­len­ni­al and Gen Z re­tail in­vestors through his Twit­ter ac­count and a pop­u­lar week­ly pod­cast. One of Pal­i­hapi­tiya’s oth­er SPAC-backed com­pa­nies, Clover Health In­vest­ments, has al­so seen re­cent in­ter­est from Red­dit in­vestors, but was the sub­ject of an in­ves­ti­ga­tion from Hin­den­burg Re­search in Feb­ru­ary, al­leg­ing Clover and Pal­i­hapi­tiya mis­led re­tail in­vestors in the run-up to the pub­lic tran­si­tion. His first SPAC will look for biotechs work­ing in neu­rol­o­gy.

So­cial Cap­i­tal Su­vret­ta Hold­ings Corp. IV

Type & Stage
SPAC: Priced
CEO
Chamath Palihapitiya
ticker
DNAD
exchange
NASDAQ
Priced Date
30 June
Total Raised
$200M

snapshot

This SPAC comes from the out­spo­ken “Piped Piper of SPACs,” Chamath Pal­i­hapi­tiya. A for­mer Face­book ex­ec­u­tive and co-own­er of the NBA’s Gold­en State War­riors, Pal­i­hapi­tiya launched four SPACs all tar­get­ing dif­fer­ent sec­tors of biotech. Pal­i­hapi­tiya has been a promi­nent and in­flu­en­tial fig­ure in this realm, hav­ing pre­vi­ous­ly launched a slate of six SPACs span­ning mul­ti­ple in­dus­tries. Four of his firms have found part­ners thus far, in­clud­ing one that took fel­low bil­lion­aire Richard Bran­son’s space tourism com­pa­ny Vir­gin Galac­tic pub­lic. He’s on­ly grown his in­flu­ence since the start of the Covid-19 pan­dem­ic, cul­ti­vat­ing a large au­di­ence of stuck-at-home mil­len­ni­al and Gen Z re­tail in­vestors through his Twit­ter ac­count and a pop­u­lar week­ly pod­cast. One of Pal­i­hapi­tiya’s oth­er SPAC-backed com­pa­nies, Clover Health In­vest­ments, has al­so seen re­cent in­ter­est from Red­dit in­vestors, but was the sub­ject of an in­ves­ti­ga­tion from Hin­den­burg Re­search in Feb­ru­ary, al­leg­ing Clover and Pal­i­hapi­tiya mis­led re­tail in­vestors in the run-up to the pub­lic tran­si­tion. His fourth SPAC will look for biotechs work­ing in im­munol­o­gy.

So­cial Cap­i­tal Su­vret­ta Hold­ings Corp. II

Type & Stage
SPAC: Priced
CEO
Chamath Palihapitiya
ticker
DNAB
exchange
NASDAQ
Priced Date
30 June
Total Raised
$200M

snapshot

This SPAC comes from the out­spo­ken “Piped Piper of SPACs,” Chamath Pal­i­hapi­tiya. A for­mer Face­book ex­ec­u­tive and co-own­er of the NBA’s Gold­en State War­riors, Pal­i­hapi­tiya launched four SPACs all tar­get­ing dif­fer­ent sec­tors of biotech. Pal­i­hapi­tiya has been a promi­nent and in­flu­en­tial fig­ure in this realm, hav­ing pre­vi­ous­ly launched a slate of six SPACs span­ning mul­ti­ple in­dus­tries. Four of his firms have found part­ners thus far, in­clud­ing one that took fel­low bil­lion­aire Richard Bran­son’s space tourism com­pa­ny Vir­gin Galac­tic pub­lic. He’s on­ly grown his in­flu­ence since the start of the Covid-19 pan­dem­ic, cul­ti­vat­ing a large au­di­ence of stuck-at-home mil­len­ni­al and Gen Z re­tail in­vestors through his Twit­ter ac­count and a pop­u­lar week­ly pod­cast. One of Pal­i­hapi­tiya’s oth­er SPAC-backed com­pa­nies, Clover Health In­vest­ments, has al­so seen re­cent in­ter­est from Red­dit in­vestors, but was the sub­ject of an in­ves­ti­ga­tion from Hin­den­burg Re­search in Feb­ru­ary, al­leg­ing Clover and Pal­i­hapi­tiya mis­led re­tail in­vestors in the run-up to the pub­lic tran­si­tion. His sec­ond SPAC will look for biotechs work­ing in on­col­o­gy.

So­cial Cap­i­tal Su­vret­ta Hold­ings Corp. III

Type & Stage
SPAC: Priced
CEO
Chamath Palihapitiya
ticker
DNAC
exchange
NASDAQ
Priced Date
30 June
Total Raised
$200M

snapshot

This SPAC comes from the out­spo­ken “Piped Piper of SPACs,” Chamath Pal­i­hapi­tiya. A for­mer Face­book ex­ec­u­tive and co-own­er of the NBA’s Gold­en State War­riors, Pal­i­hapi­tiya launched four SPACs all tar­get­ing dif­fer­ent sec­tors of biotech. Pal­i­hapi­tiya has been a promi­nent and in­flu­en­tial fig­ure in this realm, hav­ing pre­vi­ous­ly launched a slate of six SPACs span­ning mul­ti­ple in­dus­tries. Four of his firms have found part­ners thus far, in­clud­ing one that took fel­low bil­lion­aire Richard Bran­son’s space tourism com­pa­ny Vir­gin Galac­tic pub­lic. He’s on­ly grown his in­flu­ence since the start of the Covid-19 pan­dem­ic, cul­ti­vat­ing a large au­di­ence of stuck-at-home mil­len­ni­al and Gen Z re­tail in­vestors through his Twit­ter ac­count and a pop­u­lar week­ly pod­cast. One of Pal­i­hapi­tiya’s oth­er SPAC-backed com­pa­nies, Clover Health In­vest­ments, has al­so seen re­cent in­ter­est from Red­dit in­vestors, but was the sub­ject of an in­ves­ti­ga­tion from Hin­den­burg Re­search in Feb­ru­ary, al­leg­ing Clover and Pal­i­hapi­tiya mis­led re­tail in­vestors in the run-up to the pub­lic tran­si­tion. His third SPAC will look for biotechs work­ing in “the or­gan space sub­sec­tor,” which he de­fined as “in­trin­sic dis­eases of the heart, kid­ney, en­docrine sys­tem (in­clud­ing di­a­betes and lipids) and blood com­part­ment (non-on­co­log­ic dis­eases).”

Aerovate Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Timothy Noyes
ticker
AVTE
exchange
NASDAQ
IPO Date
30 June
Total Raised
$121.5M
Priced at
$14
Current Price
$15.53

snapshot

Aerovate will jump straight to the pub­lic mar­ket just a few weeks af­ter ap­point­ing a new CEO. Tim­o­thy Noyes took over from Ben Dake at the end of May, the founder who shift­ed to the role of pres­i­dent. Noyes was a for­mer CEO at Pro­teon Ther­a­peu­tics and served as pres­i­dent of Gen­zyme’s re­nal di­vi­sion. Aerovate’s fo­cus has been to de­vel­op and run tri­als of a dry-pow­der ver­sion of the land­mark can­cer drug ima­tinib, which is meant to be used with an in­haler. It’s tar­get­ing pul­monary ar­te­r­i­al hy­per­ten­sion, hop­ing the pow­der can more di­rect­ly treat the con­di­tion by go­ing di­rect­ly to the lung. Dake pre­vi­ous­ly told End­points the prod­uct would prove more at­trac­tive than a typ­i­cal liq­uid neb­u­liz­er where pa­tients have to mix their own so­lu­tions. The Boston biotech first emerged from stealth out of RA Cap­i­tal’s in­cu­ba­tor last Au­gust, net­ting $72.6 mil­lion to de­vel­op AV-101. That pro­gram sits at the cen­ter of Aerovate’s IPO plans, as the com­pa­ny ex­pects to fund a Phase IIb/III study through com­ple­tion of the Phase IIb part and da­ta read­out of the Phase III por­tion. More IPO cash will be steered to­ward the man­u­fac­tur­ing costs of the pro­gram and to its ex­pect­ed com­mer­cial launch.

coverage

Pardes Bio­sciences

Type & Stage
SPAC: To Merge
CEO
Uri Lopatin
ticker
PRDS
exchange
NASDAQ
SPAC Raise
$175M
Total Deal Size
$276
Current Price
$0.45
Announced
29 June

snapshot

Six months af­ter launch­ing his first biotech SPAC, Fore­site’s Jim Tanan­baum start­ed a sec­ond. It’s a quick re­turn to Wall Street for Fore­site af­ter Tanan­baum sim­i­lar­ly man­aged to find a quick home for his first SPAC, merg­ing with the ge­net­ics-dri­ven eye dis­ease com­pa­ny Gem­i­ni Ther­a­peu­tics in a $216 mil­lion deal in Oc­to­ber 2020. This new SPAC raised $175 mil­lion and priced on Feb. 17, and an­nounced its in­tent to merge with Pardes in late June. The biotech got an­oth­er $75 mil­lion in pri­vate fund­ing from Gilead, RA Cap­i­tal Man­age­ment and Fra­zier Life Sci­ences. Gilead and the VC firms are back­ing a dark-horse ef­fort by a sea­soned vi­rol­o­gy ex­ec­u­tive to win the race for the first, or at least best, ef­fec­tive pill against Covid-19. Ac­cord­ing to doc­u­ments Pardes filed with the SEC, the com­pa­ny was found­ed at the be­gin­ning of 2020 by Uri Lopatin, a for­mer Gilead ex­ec­u­tive who co-found­ed and served as CMO of As­sem­bly Bio­sciences — one of the lead­ing play­ers in the hunt for a he­pati­tis B cure un­til a tri­al fail­ure last No­vem­ber — for near­ly a decade.

coverage

Al­pha Tekno­va

Type & Stage
IPO: Priced
CEO
Ted Davis
ticker
TKNO
exchange
NASDAQ
IPO Date
25 June
Total Raised
$96M
Priced at
$16
Current Price
$23.89

snapshot

Al­pha Tekno­va has been around since 2000, but now it’s go­ing pub­lic on the backs of its reagents. The Hol­lis­ter, CA-based com­pa­ny says it has about 3,000 cus­tomers span­ning the en­tire life sci­ences mar­ket, in­clud­ing biotechs, larg­er phar­ma com­pa­nies and CROs. Al­pha Tekno­va of­fers three prod­ucts: pre-poured me­dia plates for cell growth and cloning, liq­uid cell cul­ture me­dia and sup­ple­ments for cel­lu­lar ex­pan­sion, and mol­e­c­u­lar bi­ol­o­gy reagents for sam­ple ma­nip­u­la­tion, re­sus­pen­sion and pu­rifi­ca­tion. Funds from the IPO will large­ly go to­ward up­ping man­u­fac­tur­ing and im­prov­ing ef­fi­cien­cy, though Al­pha Tekno­va said it couldn’t quan­ti­fy ex­act­ly how much.

coverage

El­e­va­tion On­col­o­gy

Type & Stage
IPO: Priced
CEO
Shawn Leland
ticker
ELEV
exchange
NASDAQ
IPO Date
25 June
Total Raised
$100M
Priced at
$16
Current Price
$7.67

snapshot

El­e­va­tion On­col­o­gy has spent its time try­ing to re­vamp Mer­ri­mack’s high-pro­file serib­an­tum­ab pro­gram in­to some­thing that can treat sol­id tu­mors with the rare NRG1 ge­nom­ic fu­sion. Af­ter flop­ping in NSCLC, serib­an­tum­ab was ac­quired by El­e­va­tion back in 2019 for up to $58 mil­lion. The drug can­di­date is a mon­o­clon­al an­ti­body that binds to HER3 and was one in a long string of clin­i­cal busts for Mer­ri­mack, ul­ti­mate­ly re­sult­ing in the biotech sell­ing sev­er­al as­sets and lay­ing off all its staff and ex­ec­u­tives. El­e­va­tion launched in Ju­ly 2020 and quick­ly added a $65 mil­lion Se­ries B round to com­plete en­roll­ment in a Phase II study. Their S-1 was scant on de­tails over how far El­e­va­tion wants to take the pro­gram with its raise.

coverage

GH Re­search

Type & Stage
IPO: Priced
CEO
Theis Terwey
ticker
GHRS
exchange
NASDAQ
IPO Date
25 June
Total Raised
$160M
Priced at
$16
Current Price
$20.72

snapshot

The psy­che­delics space con­tin­ues to see heavy in­vestor in­ter­est, and RA Cap­i­tal backed GH Re­search in April with a nine-fig­ure round. GH is tak­ing its pro­grams pub­lic, with a lead in­halant cen­tered around the sub­stance col­lo­qui­al­ly known as “toad ven­om.” Though the drug’s sci­en­tif­ic name is a mouth­ful — 5-Methoxy-N, N-di­methyl­trypt­a­mine is the of­fi­cial name — it picked up the toad ven­om nick­name due to its pres­ence in a cer­tain toad species na­tive to the south­west­ern US and north­west­ern Mex­i­co. The psy­che­del­ic saw a rapid rise in recre­ation­al use in the mid-2010s, per a VICE News re­port, as in­di­vid­u­als at­tempt­ed to achieve the ‘ego death’ phe­nom­e­non. GH is start­ing with treat­ment-re­sis­tant de­pres­sion and has two oth­er undis­closed in­di­ca­tions on tap. The DMT in­halant, dubbed GH001, is cur­rent­ly be­ing stud­ied in the Phase II por­tion of a Phase I/II clin­i­cal tri­al. The Dublin-based biotech is al­so work­ing on an in­jectable for­mu­la­tion of the drug. GH’s IPO raise is ex­pect­ed to help de­vel­op both of these can­di­dates, with a Phase IIb study planned for GH001 and a Phase IIa tri­al to like­ly be set up for the oth­er can­di­date.

coverage

Acurx Phar­ma­ceu­ti­cals

Type & Stage
IPO: Priced
CEO
David Luci
ticker
ACXP
exchange
NASDAQ
IPO Date
25 June
Total Raised
$15M
Priced at
$6
Current Price
$4.66

snapshot

The Stat­en Is­land, NY-based Acurx is work­ing on a slate of an­tibi­otics that look to block the DNA poly­merase II­IC en­zyme. They’re ex­pect­ed to be­gin a Phase IIb tri­al for their lead can­di­date, ibeza­pol­stat, this year in pa­tients with C. dif­fi­cile in­fec­tions.

coverage

Graphite Bio

Type & Stage
IPO: Priced
CEO
Josh Lehrer
ticker
GRPH
exchange
NASDAQ
IPO Date
25 June
Total Raised
$238M
Priced at
$17
Current Price
$15.83

snapshot

Graphite came out of a part­ner­ship from Ver­sant and Stan­ford gene ther­a­py ex­perts, first get­ting things start­ed back in Sep­tem­ber 2020 with a $45 mil­lion round. Now they’re ready to make the pub­lic leap less than a year lat­er, ex­pect­ing to launch their first clin­i­cal tri­al by the end of 2021 in sick­le cell dis­ease. The plat­form comes from Matthew Por­teus, an aca­d­e­m­ic founder of CRISPR Ther­a­peu­tics, who is work­ing along­side gene ther­a­py ex­pert Maria Grazia Ron­car­o­lo. Draw­ing from re­search work led by Dan­ny De­v­er while a post­doc at Por­teus’ lab, Graphite’s big promise is to in­crease in­te­gra­tion ef­fi­cien­cy from less than 1% to greater than 50% “across di­verse ge­net­ic le­sions in a wide range of cell types.” The trio each serve as the co-aca­d­e­m­ic founders at Graphite. The biotech has since built up its pipeline in­to three pro­grams, with can­di­dates for X-linked se­vere com­bined im­mune de­fi­cien­cy and Gauch­er dis­ease on top of the sick­le cell lead. All three are ex­pect­ed to be fun­neled cash with the IPO, and the two fol­low-up pro­grams are still in IND-en­abling stud­ies.

coverage

Monte Rosa Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Markus Warmuth
ticker
GLUE
exchange
NASDAQ
IPO Date
24 June
Total Raised
$222.3M
Priced at
$19
Current Price
$24.52

snapshot

Since last Sep­tem­ber, Monte Rosa has pulled in two fundrais­ing rounds of $96 mil­lion and $95 mil­lion apiece. That mo­men­tum is lead­ing them to­ward the next step of be­com­ing a pub­lic com­pa­ny. Their plat­form re­volves around de­vel­op­ing “mol­e­c­u­lar glues” that can re­pro­gram the ubiq­ui­tin lig­as­es cen­tral to pro­tein degra­da­tion, a field that’s been pro­duc­ing tons of buzz among in­vestors over the last cou­ple years. The re­sult­ing can­di­dates are dif­fer­ent from oth­er small mol­e­cule de­graders, such as PRO­TAC, that work more like in­hibitors. Monte Rosa doesn’t have any clin­i­cal pro­grams just yet, but they’ve been plan­ning IND stud­ies for their lead can­di­date by the end of this June. The ex­per­i­men­tal drug will tar­get GSPT1, a reg­u­la­to­ry pro­tein im­pli­cat­ed in the syn­thet­ic lethal­i­ty of sol­id tu­mor cells. With­in its S-1, Monte Rosa stayed silent over ex­act­ly how far it ex­pects to bring this pro­gram, on­ly di­vulging that some of the cash will be di­rect­ed to­ward it. The rest of the mon­ey will help fund fur­ther de­vel­op­ment of the plat­form and oth­er pre­clin­i­cal pro­grams.

coverage

23andMe

Type & Stage
SPAC: Merged
CEO
Anne Wojcicki
ticker
ME
exchange
NASDAQ
SPAC Raise
$509M
Total Deal Size
$759
Current Price
$8.87
Merger Closed
17 June

snapshot

23andMe, one of the buzzi­est names in health­care and de­liv­er­ing per­son­al­ized med­i­cine di­rect­ly based on a cus­tomer’s ge­net­ics went pub­lic, an­nounced it was go­ing pub­lic via Richard Bran­son’s SPAC in Feb­ru­ary. Large­ly known for its sali­va-col­lec­tion prod­ucts that re­searchers can an­a­lyze to map out an in­di­vid­ual’s an­ces­try and de­ter­mine ge­net­ic risks to cer­tain dis­eases, 23andMe has made a push in re­cent years to en­ter the drug de­vel­op­ment space. In 2018, they signed a $300 mil­lion deal with GSK to al­low the big phar­ma ex­clu­sive ac­cess to its ge­net­ic data­base, though ques­tions re­mained at the time over ex­act­ly how it would be uti­lized. That part­ner­ship be­gan to bear fruit in 2020, as the pair launched their first clin­i­cal tri­al. In Ju­ly of that year, pa­tients be­gan en­rolling in a study for a CD96-block­ing an­ti­body aimed at di­rect­ing the im­mune sys­tem to at­tack can­cer cells. Ef­forts from the agree­ment have since led to the iden­ti­fi­ca­tion of rough­ly 30 drug tar­gets, the com­pa­nies said at the time. They’ve al­so out-li­censed the first drug pro­gram it de­vel­oped in-house, sign­ing a deal with Span­ish der­ma­tol­ogy com­pa­ny Almi­rall for a bis­pe­cif­ic an­ti­body that blocks three cy­tokines in the IL-36 fam­i­ly. 23andMe’s merg­er closed on June 17.

coverage

ATAI Life Sci­ences

Type & Stage
IPO: Priced
CEO
Florian Brand
ticker
ATAI
exchange
NASDAQ
IPO Date
17 June
Total Raised
$225M
Priced at
$15
Current Price
$16.32

snapshot

Backed by bil­lion­aire Pe­ter Thiel, ATAI has out­lined its plans to take its port­fo­lio of ex­per­i­men­tal psy­che­del­ic med­i­cines to Nas­daq. If ATAI’s pre­vi­ous two fundrais­es are any in­di­ca­tion, their fi­nal IPO raise could be sig­nif­i­cant. Last No­vem­ber, ATAI raised $125 mil­lion in a Se­ries C that was co-led by Thiel’s firm, scor­ing the com­pa­ny a $1 bil­lion post-mon­ey val­u­a­tion. Then in March, ATAI “dou­bled down” on their strat­e­gy, as CEO Flo­ri­an Brand told End­points at the time, scor­ing a $157 mil­lion Se­ries D. That marked a four-month span in which the com­pa­ny saw near­ly $300 mil­lion of cap­i­tal flow in­to its cof­fers, book­end­ing the ad­di­tion of Recog­ni­fy Life Sci­ences and its schiz­o­phre­nia pro­grams in­to the ATAI fam­i­ly of com­pa­nies. ATAI func­tions as a par­ent com­pa­ny for sev­er­al biotechs work­ing on men­tal health ther­a­peu­tics, bring­ing port­fo­lio com­pa­nies un­der one um­brel­la. In April, ATAI brought in its 14th such port­fo­lio firm with Psy­ber, which looks to im­prove men­tal health dis­or­ders and in­duce be­hav­ioral changes through “brain com­put­er in­ter­face” tech­nol­o­gy. ATAI has iden­ti­fied pro­grams from six of its com­pa­nies that will be the pri­ma­ry fo­cus of its IPO funds. The S-1 lists the com­pa­nies as Per­cep­tion, Recog­ni­fy, De­meRx, GA­BA, Neu­ronasal and Viridia, with ATAI look­ing to launch ei­ther Phase I or Phase II stud­ies for their drug can­di­dates.

coverage

Cen­tu­ry Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Lalo Flores
ticker
IPSC
exchange
NASDAQ
IPO Date
17 June
Total Raised
$211M
Priced at
$20
Current Price
$20.85

snapshot

Cen­tu­ry Ther­a­peu­tics is one of sev­er­al ris­ing al­lo­gene­ic cell ther­a­py play­ers look­ing to cap­i­tal­ize on hefty fundrais­es in their leap to the pub­lic do­main. The IPO will come just a few months af­ter CEO La­lo Flo­res steered Cen­tu­ry to a $160 mil­lion raise, an im­pres­sive sum that fol­lowed a launch megaround of $250 mil­lion back in Ju­ly 2019. Cen­tu­ry is tak­ing a slight­ly dif­fer­ent ap­proach than oth­er biotechs in the are­na, bank­ing on in­duced pluripo­tent stem cells rather than donor cells. Flo­res not­ed that Cen­tu­ry is “plat­form ag­nos­tic,” de­vel­op­ing both CAR-T and CAR-NKs cre­at­ed with its iP­SCs. The lead pro­gram is a CD19 CAR-NK that they hope to steer in­to a hu­man tri­al by 2022, and Cen­tu­ry will push some of its IPO fund­ing to­ward this goal. If all goes well, Flo­res en­vi­sions a drug to be stored as a frozen prod­uct in hos­pi­tals. The pre­clin­i­cal pipeline goes af­ter a slate of hema­to­log­i­cal ma­lig­nan­cies as well as sol­id tu­mors like glioblas­toma, where they would de­ploy a bis­pe­cif­ic CAR. A tri­umvi­rate of those pre­clin­i­cal pro­grams tar­get­ing CD133 and EGFR, CD19 and CD79b, as well as an­oth­er mul­ti­spe­cif­ic can­di­date, will al­so get some IPO cash, with Cen­tu­ry look­ing to com­plete the full slate of IND-en­abling stud­ies by the end of 2024.

 

coverage

Am­brx Bio­phar­ma

Type & Stage
IPO: Priced
CEO
Feng Tian
ticker
AMAM
exchange
NASDAQ
IPO Date
17 June
Total Raised
$126M
Priced at
$18
Current Price
$14

snapshot

This will be Am­brx’s sec­ond at­tempt to go pub­lic af­ter an ini­tial ef­fort in 2014 came up short. The ear­li­er at­tempt left the San Diego com­pa­ny scram­bling as the board OK’d a rad­i­cal­ly dif­fer­ent strat­e­gy to move for­ward, ap­prov­ing a plan to sell it­self to a syn­di­cate of Chi­nese in­vestors and phar­ma com­pa­nies. Am­brx laid low for the next five or so years, re­turn­ing to the scene last No­vem­ber with a $200 mil­lion crossover raise. That crossover marked the cul­mi­na­tion of Am­brx’s piv­ot to Chi­na, af­ter the biotech had spent much of its ear­ly years rack­ing up part­ner­ships with Amer­i­can phar­mas like Mer­ck, Bris­tol My­ers Squibb and Eli Lil­ly. Since 2015, Am­brx has signed dis­cov­ery deals with BeiGene, Suzhou-based Mab­Space and Shang­hai-based NovoCodex, among oth­ers. Am­brx plans to fo­cus its IPO cash large­ly on their first in-house drug, a HER2-tar­get­ing an­ti­body-drug con­ju­gate called ARX788, which they’ve moved in­to the clin­ic. Re­searchers are tar­get­ing breast and gas­tric can­cer, as well as oth­er sol­id tu­mors. There will al­so be ef­forts to fund the com­pa­ny’s prostate can­cer and EPB pro­grams.

 

coverage

Cyteir Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Markus Renschler
ticker
CYT
exchange
NASDAQ
IPO Date
17 June
Total Raised
$133M
Priced at
$18
Current Price
$15.51

snapshot

CEO Markus Ren­schler had pre­vi­ous­ly dis­cussed his com­pa­ny’s plans to go pub­lic some­time in 2021, but that it hadn’t yet fi­nal­ized the ex­act tim­ing. Now, the Nas­daq jump will come rough­ly four months af­ter Cyteir pulled in an $80 mil­lion Se­ries C round, which the biotech used to hire more em­ploy­ees and fur­ther its lead can­di­date to a Phase II study. The pro­gram, an in­hibitor of RAD51-me­di­at­ed DNA re­pair dubbed CYT-0851, is be­ing eval­u­at­ed as a monother­a­py and tar­gets RAD51 — a crit­i­cal en­zyme in dou­ble-strand­ed DNA re­pair, as Cyteir re­search­es the con­cept of syn­thet­ic lethal­i­ty. It’s a phe­nom­e­non that could po­ten­tial­ly in­hib­it the DNA dam­age re­pair that can­cer cells need to sur­vive and grow, Ren­schler told End­points in Feb­ru­ary. IPO funds are ex­pect­ed to car­ry this pro­gram through the com­ple­tion of its Phase II tri­al, as well as fund an­oth­er pro­gram go­ing af­ter the re­la­tion­ship be­tween cy­ti­dine deam­i­nas­es and ho­mol­o­gous re­com­bi­na­tion.

 

coverage

Verve Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Sekar Kathiresan
ticker
VERV
exchange
NASDAQ
IPO Date
16 June
Total Raised
$266.7M
Priced at
$19
Current Price
$46.9

snapshot

Sekar Kathire­san’s ef­fort to pi­o­neer the next gen­er­a­tion of gene edit­ing is go­ing pub­lic on the backs of mon­key da­ta they be­lieve could change the way a ge­net­ic dis­or­der re­sult­ing in ex­treme cho­les­terol lev­els is treat­ed. That dis­ease, fa­mil­ial hy­per­c­ho­les­terolemia, is one that oth­er com­pa­nies are go­ing af­ter, in­clud­ing Pre­ci­sion Bio­sciences. Tar­get­ing the PSCK9 gene in the liv­er, Verve re­searchers made a sin­gle change from A to G in the ge­net­ic se­quence with the goal of de­ac­ti­vat­ing the gene for good. So far, Verve says the da­ta have proved durable. Back at the JP Mor­gan con­fer­ence in Jan­u­ary, Kathire­san un­veiled six-month fol­low-up da­ta show­ing how their ap­proach low­ered LDL cho­les­terol and av­er­age blood PC­SK9 pro­tein lev­els and kept them low for six months. Giv­en that liv­er cells re­plen­ish af­ter about 200 days, Kathire­san said at the time the con­tin­ued low lev­els sug­gest that the tech­nol­o­gy is work­ing. Verve ex­pects to dose its first pa­tient some time in 2022 for the het­erozy­gous form of the dis­ease, and Kathire­san is hop­ing to ex­pand its pipeline to tar­get at least sev­en oth­er genes re­lat­ed to the LDL-C, triglyc­erides or lipopro­tein(a) path­ways.

coverage

Lyell Im­munophar­ma

Type & Stage
IPO: Priced
CEO
Elizabeth Homans
ticker
LYEL
exchange
NASDAQ
IPO Date
16 June
Total Raised
$425M
Priced at
$17
Current Price
$11.3

snapshot

Rick Klaus­ner has as­sem­bled an all-star team to shift the cell ther­a­py par­a­digm at Lyell, and teamed up with Glax­o­SmithK­line R&D chief Hal Bar­ron as part of a $600 mil­lion launch round in 2019. The cast in­cludes co-founder Stan Rid­dell, EVP of sci­ence Nick Res­ti­fo, CSO Mar­go Roberts and sci­en­tif­ic founders Crys­tal Mack­all of Stan­ford and David Bak­er of the Uni­ver­si­ty of Wash­ing­ton. Every­thing is still pre­clin­i­cal, and the $150 mil­lion list­ed in the S-1 is like­ly a place­hold­er for a mas­sive IPO round to come. But they ex­pect to rec­ti­fy that in their fourth year, with four INDs an­tic­i­pat­ed in 2022. Pre­sum­ably hu­man proof-of-con­cept da­ta to track their quest would fol­low soon af­ter. Klaus­ner stepped away from found­ing CEO role to make way for Eliz­a­beth Homans, and could be in for a sub­stan­tial wind­fall if it all plays out as planned. The sci­en­tist/en­tre­pre­neur has more than 16 mil­lion shares cur­rent­ly — 7.2% of the to­tal. Klaus­ner’s in­vest­ment group Milky Way, which has tak­en a stake in a va­ri­ety of biotechs, has 8% of the com­pa­ny. And around 12.5 mil­lion of his per­son­al shares are ex­er­cis­able with­in 90 days of March 31.

coverage

Mol­e­c­u­lar Part­ners

Type & Stage
IPO: Priced
CEO
Patrick Amstutz
ticker
MOLN
exchange
NASDAQ
IPO Date
16 June
Total Raised
$63.8M
Priced at
$21.25
Current Price
$19.37

snapshot

Mol­e­c­u­lar Part­ners is os­ten­si­bly seek­ing to cap­i­tal­ize on the March news that one of their an­tivi­ral pro­grams will par­tic­i­pate in an NIH-run Covid-19 tri­al. The Swiss biotech teamed up with No­var­tis for the can­di­date, which is what they’re call­ing a “trispe­cif­ic” DARPin an­tivi­ral known as enso­vibep. Re­searchers will eval­u­ate the an­tivi­ral as part of the NIH’s AC­TIV-3, the hos­pi­tal­ized mild-to-mod­er­ate pa­tient arm of their AC­TIV pro­to­col against Covid-19. If the med­i­cine hits all its mile­stones, No­var­tis will be on the hook for up to $231 mil­lion. But Mol­e­c­u­lar Part­ners is al­so fo­cus­ing on eye dis­eases, on­col­o­gy and AML. The com­pa­ny has a Phase III pro­gram for wet AMD where they’ve part­nered with Al­ler­gan/Ab­b­Vie and a lead can­cer pro­gram for FAP-pos­i­tive can­cers in col­lab­o­ra­tion with Am­gen. The biotech has three pro­grams it ex­pects to fund with its IPO: a Phase I tri­al for its sec­ond on­col­o­gy pro­gram seek­ing to bind FAP and CD40, to com­plete a Phase I study for the sec­ond No­var­tis-part­nered Covid-19 pro­gram known as MP0423, and to ad­vance their liq­uid tu­mor port­fo­lio in AML through Phase I as well.

 

coverage

Alza­mend Neu­ro

Type & Stage
IPO: Priced
CEO
Stephan Jackman
ticker
ALZN
exchange
NASDAQ
IPO Date
14 June
Total Raised
$12.5M
Priced at
$5
Current Price
$2.36

snapshot

The week af­ter Bio­gen’s con­tro­ver­sial ap­proval for its Alzheimer’s drug Aduhelm, Alza­mend Neu­ro priced a $12.5 mil­lion IPO to take its own slate of neu­rode­gen­er­a­tive drugs in­to the clin­ic. The lead can­di­date, AL001, is an ion­ic cocrys­tal of lithi­um cre­at­ed at the Uni­ver­si­ty of South Flori­da. While con­ven­tion­al lithi­um salts have long been used as a pro­phy­lac­tic for de­pres­sion — and are cur­rent­ly used as a mood sta­bi­liz­er for pa­tients with bipo­lar dis­or­der — they re­quire mul­ti­ple dos­es through­out the day to reach ther­a­peu­tic con­cen­tra­tions in the blood. Cur­rent lithi­um drugs like lithi­um chlo­ride and lithi­um car­bon­ate suf­fer tox­i­c­i­ties and poor phys­io­chem­i­cal prop­er­ties. But Alza­mend thinks it doesn’t have to be that way. Sci­en­tists at USF set out to make a new lithi­um cocrys­tal com­po­si­tion that would al­low for low­er dos­ing, with im­proved phys­io­chem­i­cal prop­er­ties. Alza­mend plans on sub­mit­ting an IND for AL001 by the end of June, and tagged $5.3 mil­lion in IPO funds for topline read­outs on Phase I tri­als in mild to mod­er­ate Alzheimer’s.

coverage

Janux Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
David Campbell
ticker
JANX
exchange
NASDAQ
IPO Date
11 June
Total Raised
$194M
Priced at
$17
Current Price
$23.65

snapshot

Hot off of a $1 bil­lion deal with Mer­ck signed in De­cem­ber, Janux is tak­ing the fa­bled Nas­daq leap. De­cem­ber’s deal left Janux el­i­gi­ble for up to $500.5 mil­lion in up­front and mile­stone pay­ments ear­marked for each of two tar­gets se­lect­ed by Mer­ck. But ac­cord­ing to its S-1, Mer­ck paid just $8 mil­lion up­front in con­nec­tion to the first tar­get, and will pay an­oth­er $8 mil­lion up­on the se­lec­tion of the sec­ond. Janux will re­ceive mile­stone pay­ments of $142.5 mil­lion for each of the tar­gets that suc­cess­ful­ly reach reg­u­la­tion, and the re­main­ing po­ten­tial $350 mil­lion will de­pend on sales of the li­censed prod­uct. Janux com­plet­ed a $56 mil­lion Se­ries A in March, then in late April, the com­pa­ny an­nounced a $125 mil­lion crossover round led by RA Cap­i­tal, a Boston VC be­hind sev­er­al pre-IPO fi­nanc­ings. It’s a com­pa­ny that’s flour­ished since the Mer­ck deal, de­spite not en­ter­ing the clin­ic yet. The small San Diego biotech was found­ed in 2017 on a T cell en­gager plat­form called TRAC­Tr, which promis­es to pro­duce drugs that al­ter their phar­ma­co­ki­net­ics de­pend­ing on the con­text.

coverage

Va­lo Health

Type & Stage
SPAC: To Merge
CEO
Vinod Khosla
ticker
KVSA
exchange
NASDAQ
SPAC Raise
$333M
Total Deal Size
$501.5
Current Price
$9.9
Announced
9 June

snapshot

This merg­er, an­nounced June 9, in­volves the first of three SPACs launched by Vin­od Khosla, mak­ing up rough­ly $300 mil­lion out of a $1.2 bil­lion play. At the time he filed his SEC pa­per­work, Khosla wrote a brief but polem­i­cal let­ter on the im­por­tance of star­tups and rein­ven­tion, giv­ing on­ly vague hints at what he may be tar­get­ing with his shell com­pa­nies. Still, that let­ter gives ref­er­ence to CRISPR Cas9, ear­ly de­tec­tion of Alzheimer’s and de­men­tia, Genen­tech, and how the in­creas­ing use of AI could help turn the “prac­tice of med­i­cine” to the “sci­ence of med­i­cine” — no­table in­clu­sions for a tech firm that has in re­cent years in­creas­ing­ly wad­ed in­to biotech. The SPAC priced on March 4.

coverage

eF­FEC­TOR Ther­a­peu­tics

Type & Stage
SPAC: To Merge
CEO
Steve Worland
ticker
EFTR
exchange
NASDAQ
SPAC Raise
$175M
Total Deal Size
$235
Current Price
$19.05
Announced
27 May

snapshot

The SPAC from Lo­cust Walk Part­ners will re­verse-merge with eF­FEC­TOR Ther­a­peu­tics, tak­ing the $175 mil­lion from the SPAC raise with a $60 mil­lion PIPE fi­nanc­n­ing. Fund­ing from the deal will help the biotech com­plete its Phase IIb tri­al for its lead can­di­date, an oral small-mol­e­cule in­hibitor of mi­to­gen-ac­ti­vat­ed pro­tein ki­nas­es 1 and 2, in com­bi­na­tion with Keytru­da. There are al­so plans to launch mul­ti­ple Phase IIa stud­ies for an­oth­er pro­gram, a small-mol­e­cule in­hibitor of eIF4A. The SPAC syn­di­cate in­cludes Chris Ehrlich, se­nior man­ag­ing di­rec­tor at Lo­cust Walk, and Daniel Gef­fken, founder and man­ag­ing di­rec­tor of Dan­forth Ad­vi­sors.

coverage

Centes­sa Phar­ma­ceu­ti­cals

Type & Stage
IPO: Priced
CEO
Saurabh Saha
ticker
CNTA
exchange
NASDAQ
IPO Date
27 May
Total Raised
$330M
Priced at
$20
Current Price
$18.07

snapshot

Francesco De Ru­ber­tis made no se­cret of IPO plans for Centes­sa, his 10-in-1 lega­cy play, back in Feb­ru­ary. Bare­ly two months lat­er, the S-1 is in and he’s pen­ciled in the all-too-com­mon $100 mil­lion place­hold­er, de­spite launch­ing the com­pa­ny with $250 mil­lion. The goal is sim­i­lar to the one he brought over from Medicxi: take their as­set-cen­tric mind­set and roll up a bunch of biotech up­starts, with un­re­lat­ed risk pro­files, in­to one phar­ma com­pa­ny that can car­ry on the de­vel­op­ment at scale. They’ll be do­ing it with­out Mon­cef Slaoui, who was fea­tured promi­nent­ly in the ini­tial press re­lease as chief sci­en­tif­ic of­fi­cer and ad­vi­sor. Eject­ed from a promi­nent Glax­o­SmithK­line-af­fil­i­at­ed board seat and all biotech po­si­tions fol­low­ing a “sub­stan­ti­at­ed” case of sex­u­al ha­rass­ment (for which he apol­o­gized), the re­tired Op­eraion Warp Speed chief was nowhere to be seen in the S-1. There are 11 sub­sidiaries that make up Centes­sa, two of which have sub­se­quent­ly merged. They in­clude In­ex­ia, a 3-year-old biotech whose as­sets were trans­ferred ear­li­er this year to Orex­ia. Of the 16 pro­grams now in the Centes­sa pipeline, the four clin­i­cal-stage as­sets will re­ceive the largest chunk of cash from the IPO raise.

coverage

Dy­nam­ics Spe­cial Pur­pose Corp.

Type & Stage
SPAC: Priced
CEO
Mostafa Ronaghi
ticker
DYNS
exchange
NASDAQ
Priced Date
26 May
Total Raised
$200M

snapshot

Omid Farokhzad is jump­ing in­to the SPAC game, and he’s go­ing in with one of the most ex­pe­ri­enced teams we’ve seen in biotech. The for­mer Har­vard pro­fes­sor had been co-founder for a string of biotechs be­fore de­cid­ing to de­vote him­self to a new role as CEO of Seer, where the big idea these past 2 years-plus has been to shift away from ge­nomics in fa­vor of a pro­teomics plat­form that is do­ing some pop­u­la­tion-wide ex­plo­rations. That’s en­abled him to build a moun­tain of da­ta that can be probed with ma­chine learn­ing tech in search of in­sights in­to dis­eases, help­ing de­vel­op liq­uid biop­sy prod­ucts for ear­ly-stage di­ag­noses. Mostafa Ron­aghi is tak­ing the CEO role at the Dy­nam­ics Spe­cial Pur­pose blank check out­fit to Farokhzad’s ex­ec­u­tive chair­man post. Ron­aghi, who had been a Stan­ford sci­en­tist, was un­til re­cent­ly the CTO at Il­lu­mi­na, co-found­ed Grail and sits on the Seer board.

Day One Phar­ma­ceu­ti­cals

Type & Stage
IPO: Priced
CEO
Jeremy Bender
ticker
DAWN
exchange
NASDAQ
IPO Date
26 May
Total Raised
$160M
Priced at
$16
Current Price
$21.97

snapshot

As the phar­ma in­dus­try con­tin­ues de­vel­op­ing and push­ing for­ward can­cer treat­ments, Day One ex­ecs ar­gue that the main­stream play­ers left pe­di­atric can­cer be­hind. Adult pa­tients make up a sig­nif­i­cant­ly big­ger por­tion of the mar­ket, the com­pa­ny said, and there have been lags in un­der­stand­ing pe­di­atric bi­ol­o­gy prop­er­ly. Day One’s mis­sion, then, is to try to fill that gap by de­vel­op­ing tar­get­ed ther­a­pies aimed specif­i­cal­ly at chil­dren. Their pro­posed treat­ments are en­tire­ly new ef­forts rather than re­for­mu­lat­ing adult treat­ments that come with heavy side ef­fects, like ra­di­a­tion ther­a­py and chemo. Their lead pro­gram is a for­mer Take­da pro­gram called DAY101, an oral pan-RAF in­hibitor that can cross the blood-brain bar­ri­er and block mu­ta­tions in gliomas. As such, Day One is aim­ing for an in­di­ca­tion to treat pe­di­atric low-grade gliomas, the most com­mon form of brain tu­mors in chil­dren. The cur­rent stan­dard of care is plat­inum-based chemo, with no clear fa­vorite be­yond that, Ben­der told End­points News in Feb­ru­ary.

coverage

Ve­ra Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Marshall Fordyce
ticker
VERA
exchange
NASDAQ
IPO Date
14 May
Total Raised
$47.58M
Priced at
$11
Current Price
$16.41

snapshot

Ve­ra’s IPO came up well short of its ini­tial S-1 es­ti­mate, net­ting on­ly $47.58 mil­lion af­ter orig­i­nal­ly list­ing $86 mil­lion. It al­so came in be­low its ex­pect­ed range, pric­ing ini­tial­ly at $11 per share. For­mer­ly known as Tru­code Gene Re­pair, Ve­ra re-launched it­self in Jan­u­ary with an $80 mil­lion Se­ries C with plans to fo­cus their ef­forts on at­aci­cept, a 20-year-old mol­e­cule now in de­vel­op­ment for kid­ney dis­ease. It marked a quick piv­ot for the com­pa­ny, which had on­ly orig­i­nal­ly de­buted back in Sep­tem­ber 2019. In an in­ter­view fol­low­ing the Se­ries C, CEO Mar­shall Fordyce wouldn’t pro­vide de­tails on why the biotech chose to move on so quick­ly from its cen­tral tech­nol­o­gy, but Ve­ra now has a much clear­er line of sight on com­mer­cial­iza­tion. At­aci­cept dates back to the now-de­funct Seat­tle biotech Zy­mo­Ge­net­ics, which in 2001 signed a de­vel­op­ment deal for au­toim­mune dis­eases with the then-in­de­pen­dent com­pa­ny Serono. In 2009, short­ly be­fore they were bought out by Bris­tol My­ers Squibb, Zy­mo­Ge­net­ics li­censed the mol­e­cule to Mer­ck KGaA, who kept it go­ing in a va­ri­ety of mid and late-stage tri­als. Most of those came up short, in­clud­ing stud­ies on mul­ti­ple scle­ro­sis, lu­pus and rheuma­toid arthri­tis. But ear­li­er this year, Mer­ck an­nounced new Phase IIa da­ta for pa­tients with IgA nephropa­thy. Last No­vem­ber, Ve­ra li­censed the drug for a 10% eq­ui­ty stake in the biotech and €605 mil­lion in mile­stones.

coverage

Ori­on Biotech Op­por­tu­ni­ties

Type & Stage
SPAC: Priced
CEO
James Huang
ticker
ORIAU
exchange
NASDAQ
Priced Date
12 May
Total Raised
$200M

snapshot

This SPAC comes from the fam­i­ly fund of tech bil­lion­aire Michael Dell, a syn­thet­ic bi­ol­o­gy leg­end out of MIT and Har­vard and the for­mer di­rec­tor of the NCI. His in­vest­ment team in­cludes James Huang, the Tai­wanese born man­ag­ing part­ner of Klein­er Perkins Cau­field & By­ers Chi­na who launched Panacea a few years ago, as well as John Phe­lan, the co-found­ing part­ner at Dell’s MSD Part­ners and MSD Cap­i­tal. James Collins, the MIT pro­fes­sor and co-found­ing fac­ul­ty mem­ber at the Wyss In­sti­tute, is al­so join­ing the board, as is Samuel Broder, who was ap­point­ed as the NCI chief by for­mer Pres­i­dent Ronald Rea­gan.

coverage

Gink­go Bioworks

Type & Stage
SPAC: To Merge
CEO
Jason Kelly
ticker
SRNG
exchange
NASDAQ
SPAC Raise
$1.73B
Total Deal Size
$2500
Current Price
$12.18
Announced
11 May

snapshot

In the largest biotech SPAC deal to clear the hur­dles to Nas­daq, the biotech that en­vi­sioned every­thing from re­mak­ing syn­thet­ic meat to a whole new ap­proach to de­vel­op­ing drugs has joined forces with one of the biggest dis­rup­tors in the in­dus­try. Gink­go struck a deal to go pub­lic in a leviathan SPAC that sets its pre-mon­ey val­u­a­tion at $15 bil­lion. Sloan’s Ea­gle Eq­ui­ty Part­ners co-spon­sored the trans­ac­tion with Bell­co Cap­i­tal, led by Arie Bellde­grun, a high-fly­ing biotech in­vestor in the 4 years since he sold Kite to Gilead for $12 bil­lion. Bellde­grun has be­come an en­thu­si­as­tic cham­pi­on of the Gink­go founders, who launched the com­pa­ny 13 years ago. Gink­go will use their new wind­fall for more than just the field, though. In ad­di­tion to com­par­ing the biotech to Mi­crosoft, CEO Ja­son Kel­ly of­ten likens Gink­go to Ama­zon Web Ser­vices, pro­vid­ing ge­net­ic en­gi­neer­ing and oth­er lab ser­vices to both star­tups and larg­er com­pa­nies. As such, they re­ly on economies of scale; the cost of en­gi­neer­ing a giv­en cell falls as they en­gi­neer more cells. So far they’ve been tripling ca­pac­i­ty and halv­ing costs each year. They now plan to add more fa­cil­i­ties, while of­fer­ing ad­ja­cent ser­vices, such as da­ta or man­u­fac­tur­ing, to help com­pa­nies that use their plat­form.

coverage

Sci­ence 37

Type & Stage
SPAC: To Merge
CEO
David Coman
ticker
SNCE
exchange
NASDAQ
SPAC Raise
$80M
Total Deal Size
$280
Current Price
Unknown
Announced
7 May

snapshot

As the Covid-19 pan­dem­ic made con­ven­tion­al tri­als im­pos­si­ble for some drug­mak­ers, more and more com­pa­nies moved to de­cen­tral­ize their clin­i­cal stud­ies, ac­cel­er­at­ing busi­ness for tech de­vel­op­ers like Sci­ence 37. Lever­ag­ing that boost, the com­pa­ny went pub­lic on the backs of a SPAC merg­er and earned a uni­corn val­u­a­tion. The com­pa­ny got its start back in 2014 and struck a part­ner­ship with No­var­tis four years lat­er to launch 10 vir­tu­al clin­i­cal tri­als in which pa­tients could par­tic­i­pate via cell phone. The sys­tem can cap­ture and gen­er­ate da­ta from things like elec­tron­ic clin­i­cal out­comes as­sess­ments, eCon­sent and re­al-world ev­i­dence. It em­ploys the help of not on­ly de­vices, but al­so telemed­i­cine in­ves­ti­ga­tors, mo­bile nurs­es and re­mote co­or­di­na­tors. Ac­cord­ing to a re­port Sci­ence 37 con­duct­ed it­self, CEO David Co­man said more than 80% of bio­phar­ma com­pa­nies plan on con­duct­ing a clin­i­cal tri­al us­ing at least some de­cen­tral­ized el­e­ments this year, and near­ly 60% don’t have the in­ter­nal ca­pa­bil­i­ties to do it.

coverage

Aneb­u­lo Phar­ma­ceu­ti­cals

Type & Stage
IPO: Priced
CEO
Daniel Schneeberger
ticker
ANEB
exchange
NASDAQ
IPO Date
7 May
Total Raised
$21M
Priced at
$7
Current Price
$7.01

snapshot

Aneb­u­lo Phar­ma­ceu­ti­cals pen­ciled in a mod­est $15 mil­lion for its IPO raise. The Lake­way, TX-based com­pa­ny, found­ed just last year, is fo­cused on de­vel­op­ing treat­ment for cannabi­noid over­dose and sub­stance ad­dic­tion. Aneb­u­lo’s lead can­di­date, ANEB-001, is de­signed to re­verse the neg­a­tive ef­fects of cannabi­noid over­dose with­in one hour of ad­min­is­tra­tion. Aneb­u­lo is hop­ing to ful­ly fi­nance a Phase II proof-of-con­cept study for the pro­gram with its IPO mon­ey. But this won’t be the last time Aneb­u­lo is look­ing to raise mon­ey — in their S-1, they not­ed that they’ll have more cap­i­tal in about 18 months to run the piv­otal safe­ty tri­als, launch the drug com­mer­cial­ly and make mile­stone pay­ments to Ver­nalis, from whom Aneb­u­lo li­censed its pro­gram. Aneb­u­lo set its IPO terms on April 26.

coverage

Ta­laris Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Scott Requadt
ticker
TALS
exchange
NASDAQ
IPO Date
7 May
Total Raised
$150M
Priced at
$17
Current Price
$14.69

snapshot

Ta­laris re­cent­ly saw a nine-fig­ure raise, com­ing in the form of a $115 mil­lion Se­ries B back in Oc­to­ber. The mis­sion here is to make or­gan trans­plants safer — and po­ten­tial­ly elim­i­nate the need for im­muno­sup­pres­sive drugs — by way of al­lo­gene­ic stem cell ther­a­py. At the time of the Se­ries B, CEO Scott Re­quadt said he saw “dra­mat­ic progress” over the pre­vi­ous 18 months, not­ing Ta­laris had its first Phase III tri­al for the lead FCR001 pro­gram in liv­ing donor kid­ney trans­plant re­cip­i­ents. FCR001 it­self is com­posed of stem and im­mune cells that are pro­cured from a healthy donor, who is al­so the or­gan trans­plant donor. Ta­laris does all its man­u­fac­tur­ing it­self and is then ad­min­is­tered to the pa­tient af­ter “non­mye­loab­la­tive con­di­tion­ing,” ac­cord­ing to the biotech’s S-1. Some of the IPO cash will be fun­neled to­ward the reg­is­tra­tional Phase III for FCR001, while ad­di­tion­al funds will help fur­ther R&D and oth­er tri­als for the pro­gram. There will al­so be some mon­ey ear­marked for the ex­pan­sion of CMC op­er­a­tions to sup­port even­tu­al com­mer­cial­iza­tion of the ap­proved prod­uct, should it get there.

coverage

Jasper Ther­a­peu­tics

Type & Stage
SPAC: To Merge
CEO
Bill Lis
ticker
JSPR
exchange
NASDAQ
SPAC Raise
$100M
Total Deal Size
$200
Current Price
Unknown
Announced
6 May

snapshot

Orig­i­nal­ly launched out of Stan­ford in late 2019, Jasper’s main fo­cus has been around their an­ti-CD117 an­ti­body, which it’s de­vel­op­ing as a con­di­tion­ing agent for all sorts of stem cell trans­plants in or­der to make the pro­ce­dures safer and more ac­ces­si­ble. The com­pa­ny had re­ceived $35 mil­lion as part of that Se­ries A thanks to the dis­cov­ery of a Stan­ford grad stu­dent show­ing an eas­i­er way to de­plete stem cells in mice be­fore trans­plan­ta­tion. Stan­ford sci­en­tist Ju­dith Shizu­ru then helped turn that dis­cov­ery in­to the an­ti­body around which Jasper has spent so much ef­fort. It al­so led Jasper to see whether or not oth­er com­pa­nies had start­ed look­ing at this type of pro­ce­dure in hu­mans, lead­ing them to a col­lab­o­ra­tion with Am­gen. Rather than us­ing chemother­a­py or ra­di­a­tion to re­move old stem cells, the pro­gram works by re­duc­ing stem cells from with­in their hard-to-reach pock­ets in the bone mar­row. Ear­li­er this year, Jasper’s lead pro­gram JSP191 re­port­ed its pre­lim­i­nary da­ta from an open-la­bel Phase I study, with all six in­di­vid­u­als show­ing suc­cess­ful en­graft­ment of the stem cells in their pro­ce­dures.

coverage

Roivant Sci­ences

Type & Stage
SPAC: To Merge
CEO
Matt Gline
ticker
ROIV
exchange
NASDAQ
SPAC Raise
$411M
Total Deal Size
$611
Current Price
Unknown
Announced
3 May

snapshot

Sev­en years af­ter found­ing Roivant Sci­ences as an up­start con­tender in the world of biotech cre­ation, Vivek Ra­maswamy and his re­cent­ly anoint­ed CEO Matt Gline flew in­to Nas­daq on the gild­ed wings of a cash-heavy SPAC. They’ve as­sem­bled a fresh $611 mil­lion in fi­nanc­ing for Roivant — $411 mil­lion held in trust from the in­vestors in MAAC with a fresh $200 mil­lion from the syn­di­cate. The plan to go pub­lic fits square­ly with Gline’s blue­print to firm up and ex­pand a broad set of in­vestors as he goes on to the next chap­ter in Roivant’s ex­is­tence. Roivant got start­ed with Ra­maswamy, how­ev­er, thanks to his phi­los­o­phy that Big Phar­ma was spawn­ing more promis­ing drugs, while leav­ing oth­er op­por­tu­ni­ties on the shelf. It ran in­to some ear­ly head­winds thanks to a stun­ning Alzheimer’s fail, but Ra­maswamy had al­ready boot­ed up a string of star­tups, each de­vot­ed to a par­tic­u­lar sec­tion of the glob­al pipeline. And it’s grown con­sid­er­ably.

coverage

Vac­citech

Type & Stage
IPO: Priced
CEO
Bill Enright
ticker
VACC
exchange
NASDAQ
IPO Date
29 April
Total Raised
$110.5M
Priced at
$17
Current Price
$15.6

snapshot

The British biotech is most fa­mous for cre­at­ing the tech­nol­o­gy be­hind the As­traZeneca/Ox­ford Uni­ver­si­ty Covid-19 vac­cine, with its co-founder Sarah Gilbert hav­ing head­ed up that re­search. Vac­citech’s push to go pub­lic came just a cou­ple of weeks af­ter rais­ing an im­pres­sive $168 mil­lion for a Se­ries B round, led by Lon­don in­vest­ment firm M&G and joined by Gilead and Ten­cent, among oth­ers. Con­cerns have arisen over the As­traZeneca shot due to a rare side ef­fect of blood clots in younger re­cip­i­ents, how­ev­er, which may lim­it some of the op­ti­mism sur­round­ing the biotech. The EMA and MHRA have both re­quest­ed that clots be list­ed as a very rare po­ten­tial risk to the vac­cine, though they not­ed the ben­e­fits of get­ting the shot con­tin­ue to out­weigh those risks. Vac­citech not­ed these con­cerns in its S-1 “risk fac­tor” sec­tion, writ­ing that in ad­di­tion to the pos­i­tive risk-ben­e­fit pro­file of the vac­cine, “there can be no as­sur­ance that the vac­cine is not as­so­ci­at­ed with an in­crease in the over­all risk of throm­boem­bol­ic events.” As­traZeneca al­so paused its vac­cine tri­al in chil­dren as the clot­ting wor­ries con­tin­ued. Vac­citech set its terms on April 26.

coverage

Were­wolf Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Dan Hicklin
ticker
HOWL
exchange
NASDAQ
IPO Date
29 April
Total Raised
$120M
Priced at
$16
Current Price
$17.44

snapshot

Boston-based Were­wolf out­lined some of its plans to hit the clin­ic back in Jan­u­ary, when CEO Dan Hick­lin took the wraps off a $72 mil­lion Se­ries B. Us­ing an en­gi­neer­ing plat­form dubbed PREDA­TOR, the com­pa­ny has three mol­e­cules be­long­ing to a class they dub In­dukines, which com­pris­es four com­po­nents: a cy­tokine, an in­ac­ti­va­tion do­main, a half-life ex­ten­sion do­main and a link­er that can be cleaved by pro­teas­es found in tu­mors. That way, they rea­son, the drug stays qui­et through­out the body and on­ly trig­gers an in­flam­ma­to­ry ef­fect against can­cer. The sys­tem makes use of tech­nolo­gies from Har­poon — a fel­low MPM com­pa­ny — in­clud­ing “polypep­tides and a bind­ing moi­ety for con­di­tion­al ac­ti­va­tion of cer­tain polypep­tides.” In ad­di­tion to promis­ing roy­al­ties and ex­chang­ing cer­tain oth­er patent rights, Were­wolf paid a grand $500,000 up­front to Har­poon, which is build­ing an op­er­a­tion around T cell en­gage­ment. With an ini­tial fo­cus on IL-2 and IL-12, Were­wolf is look­ing to be­gin hu­man test­ing for WTX-124 and WTX-330 in 2022. The third can­di­date aims to con­di­tion­al­ly ac­ti­vate IFN-a.

coverage

Pro­ta­genic Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Garo Armen
ticker
PTIX
exchange
NASDAQ
IPO Date
27 April
Total Raised
$13M
Priced at
$4.15
Current Price
$1.99

snapshot

The small neu­ro dis­or­der biotech Pro­ta­genic Ther­a­peu­tics filed for an $18 mil­lion IPO last Thurs­day. Work­ing on neu­ropep­tides de­rived from the TCAP fam­i­ly, the com­pa­ny’s lead pro­gram PT00114 is be­ing de­vel­oped to treat stress-re­lat­ed dis­or­ders such as PTSD and drug and al­co­hol ad­dic­tions with­out in­ter­fer­ing with brain func­tion. The com­pound is ex­pect­ed to com­plete IND-en­abling stud­ies in ear­ly 2021, and sub­se­quent­ly, en­ter Phase I/II tri­als. Pro­ta­genic said in its S-1 it plans to fun­nel mon­ey to­ward en­rolling this “bas­ket” tri­al, with the goal of sign­ing up 42 pa­tients. Ul­ti­mate­ly, Pro­ta­genic’s goal is to im­prove men­tal health by coun­ter­bal­anc­ing stress over­drive and restor­ing the health of neu­ronal cells. Pro­ta­genic is al­ready list­ed on the OTC­QB mar­ket, with se­cu­ri­ties list­ed at $4.15 as of Feb. 12.

coverage

Rain Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Avanish Vellanki
ticker
RAIN
exchange
NASDAQ
IPO Date
22 April
Total Raised
$125M
Priced at
$17
Current Price
$14.81

snapshot

Rain Ther­a­peu­tics saw a show­er of good for­tune in 2020. Around La­bor Day last year, the biotech tripled its pipeline in the span of a week, li­cens­ing a re­search pro­gram from Drex­el Uni­ver­si­ty and nab­bing a Phase II-ready drug from Dai­ichi Sankyo. Rain fol­lowed that up with a $63 mil­lion fundraise short­ly af­ter to push for­ward all three of its pro­grams. The Dai­ichi pro­gram has now be­come Rain’s lead. Dubbed RAIN-32, the can­di­date will see the bulk of Rain’s IPO funds fun­neled to­ward it. Per the S-1, Rain plans to launch three stud­ies for RAIN-32, in­clud­ing a piv­otal Phase III study in an MDM2-am­pli­fied sub­type of li­posar­co­ma. The new­er can­di­dates pair up with the com­pa­ny’s orig­i­nal mis­sion, one which helped it launch with an $18 mil­lion Se­ries A back in 2018. Rain’s first ex­per­i­men­tal drug was tar­lox­o­tinib, a small mol­e­cule in­hibitor de­signed to tar­get low oxy­gen lev­els in tu­mors, there­by spar­ing healthy tis­sues.

coverage

Im­pel Neu­roPhar­ma

Type & Stage
IPO: Priced
CEO
Adrian Adams
ticker
IMPL
exchange
NASDAQ
IPO Date
22 April
Total Raised
$80M
Priced at
$15
Current Price
$13.46

snapshot

More than two years af­ter its crossover raise, Im­pel Neu­roPhar­ma is fi­nal­ly head­ing to Nas­daq. The Seat­tle-based biotech has a unique ap­proach for get­ting CNS drugs de­liv­ered to the brain — through the nose. Im­pel’s tech is cen­tered around a de­liv­ery sys­tem of nasal dos­es of old and thor­ough­ly un­der­stood drugs, with re­search go­ing to­ward mi­graines, Parkin­son’s and ag­i­ta­tion re­lat­ed to autism. Led by CEO Adri­an Adams, Im­pel hopes an en­hanced nasal de­liv­ery ap­proach can im­prove a drug’s per­for­mance, of­fer­ing an open­ing for an im­proved ther­a­peu­tic ef­fect with a liq­uid or dry for­mu­la­tion of an old drug. Their mi­graine pro­gram has com­plet­ed its piv­otal study, with an ex­pect­ed PDU­FA date of Sept. 6 lat­er this year. As such, the ma­jor­i­ty of the planned IPO cash will go to­ward fund­ing the po­ten­tial com­mer­cial launch of the mi­graine treat­ment, which Im­pel plans to mar­ket as Trud­he­sa. The drug is an up­per nasal for­mu­la­tion of di­hy­droer­go­t­a­mine to treat acute mi­graines. The re­main­der of the IPO funds will help the INP105 pro­gram, de­signed for acute treat­ment of ag­i­ta­tion and ag­gres­sion as­so­ci­at­ed with autism spec­trum dis­or­der. This can­di­date is a nasal re­for­mu­la­tion of olan­za­p­ine.

coverage

Zymer­gen

Type & Stage
IPO: Priced
CEO
Josh Hoffman
ticker
ZY
exchange
NASDAQ
IPO Date
21 April
Total Raised
$500M
Priced at
$31
Current Price
$13.36

snapshot

Zymer­gen’s IPO pitch comes five years af­ter the syn­thet­ic bi­ol­o­gy com­pa­ny raised $174 mil­lion from in­vestors by piquing in­ter­est in de­sign­er mi­crobes. The com­pa­ny so far has spe­cial­ized in en­gi­neer­ing mi­crobes for new ma­te­ri­als, in­clud­ing elec­tron­ics and in­sect re­pel­lent, or for man­u­fac­tur­ing chem­i­cals and fu­els. But they’ve al­so qui­et­ly been in­volved in drug de­vel­op­ment and man­u­fac­tur­ing bi­o­log­ics. Their IPO haul, which could be sig­nif­i­cant, rep­re­sents a ma­jor mile­stone for a syn­thet­ic bi­ol­o­gy field that has been try­ing to re­make cor­ners of the bio­phar­ma in­dus­try. The amount they ul­ti­mate­ly raise could pro­vide a bench­mark for the next wide­ly an­tic­i­pat­ed syn­thet­ic bi­ol­o­gy IPO: Gink­go Bioworks, which has played a much more di­rect role in drug de­vel­op­ment, team­ing with Roche, Mod­er­na and Syn­log­ic. Zymer­gen has yet to make any ma­jor pub­lic in­roads in­to bio­phar­ma, but they say on their web­site in a sec­tion la­beled “emerg­ing ar­eas” that they are ac­tive­ly us­ing their ge­net­ic li­braries, high-through­put sys­tems and oth­er tech­nolo­gies to de­vel­op drugs for on­col­o­gy and in­fec­tious dis­eases. Their first prod­uct, a film that al­lows cus­tomers to make fold­able touch­screens, was launched in De­cem­ber 2020.

coverage

Re­cur­sion Phar­ma­ceu­ti­cals

Type & Stage
IPO: Priced
CEO
Chris Gibson
ticker
RXRX
exchange
NASDAQ
IPO Date
16 April
Total Raised
$436.4M
Priced at
$18
Current Price
$24.4

snapshot

Re­cur­sion’s $239 mil­lion Se­ries D marked one of the largest, if not the sin­gle largest, fund­ing rounds for an ar­ti­fi­cial-in­tel­li­gence-fo­cused biotech. That ap­proach cen­ters around a 100,000 square-foot ware­house in down­town Salt Lake City, where ro­bots take Petri dish­es of dif­fer­ent cell types and knock out dif­fer­ent genes. They’re con­stant­ly tak­ing pic­tures in the process, with the dif­fer­ences be­ing too small for a hu­man eye to dif­fer­en­ti­ate. But their com­put­ers can, and by do­ing so pick up pat­terns to in­di­cate what can make a cell sick and which genes, when tar­get­ed, can make them healthy. With­in its S-1, Re­cur­sion sig­naled a broad de­vel­op­ment push across its pipeline. The biotech plans to fo­cus the funds on Phase II tri­als for four of its pro­grams: REC-4881 for fa­mil­ial ade­no­ma­tous poly­po­sis, REC-3599 for GM2 gan­gliosi­do­sis, REC-2282 for neu­rofi­bro­mato­sis type 2 and REC-994 for cere­bral cav­ernous mal­for­ma­tion. There are al­so plans to use some of the mon­ey on six of the biotech’s pre­clin­i­cal can­di­dates, in­clud­ing Bat­ten dis­ease, sol­id and hema­to­log­i­cal ma­lig­nan­cies and the lead mol­e­cule for the treat­ment of C. dif­fi­cile col­i­tis.

coverage

Bio­mea Fu­sion

Type & Stage
IPO: Priced
CEO
Ramses Erdtmann
ticker
BMEA
exchange
NASDAQ
IPO Date
16 April
Total Raised
$153M
Priced at
$17
Current Price
$10.4

snapshot

Bio­mea is work­ing on small mol­e­cules for ge­net­i­cal­ly de­fined can­cers, but with a twist — they want their drugs to be ir­re­versible. As the com­pa­ny lays out in its S-1, an ir­re­versible small mol­e­cule is a syn­thet­ic com­pound that forms a per­ma­nent bond to its tar­get pro­tein. The idea here is to in­duce greater tar­get se­lec­tiv­i­ty, low­er drug ex­po­sure and pro­vide a much more durable re­sponse than typ­i­cal small mol­e­cules. Bio­mea is fo­cus­ing sole­ly on its lead pro­gram, known as BMF-219. The can­di­date comes from the biotech’s ir­re­versible small mol­e­cule plat­form and is aimed at in­hibit­ing menin in menin-de­pen­dent can­cers. BMF-219 hasn’t hit the clin­ic yet, but Bio­mea is hop­ing to file an IND at some point in the sec­ond half of 2021. The S-1 ex­pands on how Bio­mea plans to get there. About $80 mil­lion to $90 mil­lion of the raise will go to­ward the BMF-219 pro­gram, in­clud­ing the IND-en­abling stud­ies as well as a planned Phase I/II tri­al. An­oth­er $40 mil­lion to $45 mil­lion is slat­ed for R&D for two ad­di­tion­al undis­closed pro­grams.

coverage

Sur­rozen

Type & Stage
SPAC: To Merge
CEO
Craig Parker
ticker
SRZN
exchange
NASDAQ
SPAC Raise
$92M
Total Deal Size
$212
Current Price
$10.64
Announced
15 April

snapshot

Sur­ro­zon said on April 15 that it plans to re­verse-merge with Con­so­nance Cap­i­tal Man­age­ment’s SPAC in a $212 mil­lion deal, which in­cludes $92 mil­lion from the shell com­pa­ny and $120 mil­lion in PIPE fi­nanc­ing. The com­pa­ny is work­ing on a pipeline of ex­per­i­men­tal drugs that mod­u­late the Wnt path­way, which plays a role in the main­te­nance and self-re­new­al of stem cells in a va­ri­ety of tis­sues. Prod­ucts that af­fect Wnt sig­nal­ing, whose name com­bines Wing­less and Int-1, can be dif­fi­cult to man­u­fac­ture be­cause the process is high­ly un­sta­ble. The goal, then, is to de­vel­op drugs that are flex­i­ble enough to ad­dress in­suf­fi­cient en­doge­nous Wnt or in­suf­fi­cient re­cep­tors that have the po­ten­tial to re­pair dam­aged tis­sue. So far, that’s tak­en the form of two lead pro­grams, one for in­flam­ma­to­ry bow­el dis­ease and an­oth­er to treat se­vere al­co­holic he­pati­tis. Sur­rozen is hop­ing to uti­lize the two Wnt mod­u­lat­ing plat­forms that helped cre­ate these com­pounds to ex­pand in­to oth­er dis­eases, such as those in the eye, lung, kid­ney, cochlea, skin, pan­creas and cen­tral ner­vous sys­tem.

coverage

Tan­go Ther­a­peu­tics

Type & Stage
SPAC: To Merge
CEO
Barbara Weber
ticker
TNGX
exchange
NASDAQ
SPAC Raise
$167M
Total Deal Size
$353
Current Price
$15.81
Announced
14 April

snapshot

Tan­go Ther­a­peu­tics and its CRISPR-fo­cused search for new can­cer genes is re­verse merg­ing with Box­er Cap­i­tal’s blank-check com­pa­ny, the com­pa­ny an­nounced April 14. CEO Bar­bara We­ber told End­points News that Tan­go had been plan­ning for a tra­di­tion­al IPO at some point this year, but they shift­ed gears when Box­er, who had pre­vi­ous­ly led the com­pa­ny’s Se­ries B in April 2020, ap­proached Tan­go ex­ecs with the SPAC idea. The biotech takes ad­van­tage of CRISPR as a re­search tool, us­ing it to dis­cov­er gene pair tar­gets that cre­ate unique vul­ner­a­bil­i­ties in can­cer cells. It’s sim­i­lar to the un­der­ly­ing the­o­ry be­hind PARP in­hibitors — drugs that go af­ter a pro­tein in pa­tients with a mu­ta­tion on one of the pro­teins used to re­pair DNA. Tan­go has three pro­grams it in­tends to ad­vance with Wednes­day’s funds, look­ing to file INDs in each of the next three years..

coverage

Val­ne­va

Type & Stage
IPO: Priced
CEO
Thomas Lingelbach
ticker
VALN
exchange
NASDAQ
IPO Date
9 April
Total Raised
$94M
Priced at
$26.41
Current Price
$31.86

snapshot

De­spite its UK deal to sup­ply Covid-19 vac­cines, Val­ne­va is wary of ex­port ten­sions be­tween Britain and the EU slow­ing down de­liv­ery times. The biotech high­light­ed the po­ten­tial risk that’s been in the news re­cent­ly, not­ing in its S-1 that ex­port re­stric­tions may af­fect its abil­i­ty to de­liv­er those shots promised to the UK. Val­ne­va has com­mit­ments to de­liv­er 100 mil­lion vac­cines to Britain by 2022, with the UK own­ing ad­di­tion­al op­tions for an­oth­er 90 mil­lion in sup­ply be­tween 2023 and 2025. They haven’t opt­ed-in just yet, but thanks to Brex­it, Val­ne­va said any lim­its on im­ports or ex­ports may pose a “sub­stan­tial” risk as the shots are man­u­fac­tured in the UK but pack­aged in the EU. The com­pa­ny it­self is head­quar­tered across the Eng­lish chan­nel in Saint-Herblain, France. The April 9 fil­ing comes just a few days af­ter the biotech re­port­ed new pos­i­tive vac­cine da­ta from a Phase I/II tri­al, and a Phase III could be­gin as soon as the end of the month. Val­ne­va test­ed three dos­ing lev­els, and like many oth­er Covid-19 shots be­ing test­ed or au­tho­rized, it was ad­min­is­tered in two jabs three weeks apart. It’s al­so work­ing on a Ly­me dis­ease vac­cine with Pfiz­er, hav­ing launched a Phase II study for that can­di­date in March. Val­ne­va set its terms on April 29.

 

coverage

Re­neo Phar­ma­ceu­ti­cals

Type & Stage
IPO: Priced
CEO
Gregory Flesher
ticker
RPHM
exchange
NASDAQ
IPO Date
9 April
Total Raised
$94M
Priced at
$15
Current Price
$7.93

snapshot

Backed by No­vo Ven­tures and Abing­worth, Re­neo had enough cash be­fore­hand to take them through the com­ple­tion of three ear­ly- to mid-stage tri­als for their lead pro­gram, REN001, CEO Gre­go­ry Flesh­er told End­points at the time. With­in its S-1, Re­neo has now de­tailed its plans to use the IPO funds to com­plete those stud­ies in pri­ma­ry mi­to­chon­dr­i­al my­opathies, fat­ty acid ox­i­da­tion dis­or­ders and McAr­dle dis­ease. REN001 is a PPAR-delta ag­o­nist, and the three con­di­tions Re­neo is look­ing at are re­lat­ed to dif­fer­ent parts of mi­to­chon­dr­i­al func­tion. A once-dai­ly pill, REN001 has the abil­i­ty to help cells ex­press cer­tain genes with­in the mi­to­chon­dria that in­crease a pa­tient’s me­tab­o­lism. Though it’s not a gene ther­a­py, the ul­ti­mate goal is to help pa­tients re­plen­ish mi­to­chon­dria cells once old ones die off while si­mul­ta­ne­ous­ly boost­ing en­zyme pro­duc­tion.

coverage

Vec­tivBio

Type & Stage
IPO: Priced
CEO
Luca Santarelli
ticker
VECT
exchange
NASDAQ
IPO Date
8 April
Total Raised
$127.5M
Priced at
$17
Current Price
$7.41

snapshot

Lu­ca Santarel­li tells a straight­for­ward sto­ry about Vec­tivBio. Af­ter sell­ing Ther­a­chon to Pfiz­er in an $810 mil­lion deal, the Roche vet im­me­di­ate­ly spun out with the new com­pa­ny, tak­ing their Phase II drug apraglu­tide for short bow­el syn­drome. The IPO was a nat­ur­al next step on the heels of a mega-raise of $110 mil­lion an­nounced last Oc­to­ber, with the fo­cus still square­ly on ex­e­cut­ing the Phase III and lay­ing the foun­da­tion for com­mer­cial­iza­tion work. A long-act­ing syn­thet­ic pep­tide ana­log of GLP-2, apraglu­tide re­mains the sole as­set in the com­pa­ny and will be de­ployed in a range of rare gas­troin­testi­nal dis­or­ders out­side of SBS. Topline re­sults for the lead in­di­ca­tion, in SBS in­testi­nal fail­ure, are ex­pect­ed in 2023. While Vec­tivBio is look­ing to in-li­cense or ac­quire ad­di­tion­al drugs for the pipeline, the IPO pro­ceeds are most­ly go­ing to­ward the core pro­gram — in­clud­ing a Phase II tar­get­ing a sub­group of SBS-IF pa­tients with colon-in-con­ti­nu­ity anato­my and proof of con­cept in apraglu­tide’s util­i­ty for gas­troin­testi­nal man­i­fes­ta­tions of graft-ver­sus-host dis­ease.

coverage

Bet­ter Ther­a­peu­tics

Type & Stage
SPAC: To Merge
CEO
Kevin Appelbaum
ticker
BTTX
exchange
NASDAQ
SPAC Raise
$57.5M
Total Deal Size
$113
Current Price
Unknown
Announced
7 April

snapshot

Bet­ter Ther­a­peu­tics an­nounced its in­ten­tion to go pub­lic via SPAC on April 7. The com­pa­ny fo­cus­es on de­liv­er­ing cog­ni­tive be­hav­ioral ther­a­py to ad­dress the root caus­es of car­diometa­bol­ic dis­eases, and is plan­ning to merge with the SPAC put to­geth­er by Far­al­lon Cap­i­tal Man­age­ment, RS In­vest­ments, Sec­toral As­set Man­age­ment, Monashee In­vest­ment Man­age­ment and oth­er undis­closed in­vestors. The SPAC it­self held rough­ly $56 mil­lion, while Bet­ter al­so got $50 mil­lion in PIPE fi­nanc­ing. Pro­ceeds of the merg­er will be used to ad­vance their lead prod­uct for the treat­ment of type 2 di­a­betes, BT-001, to mar­ket­ing au­tho­riza­tion by the FDA and ad­vance their pipeline of pre­scrip­tion dig­i­tal ther­a­peu­tics for a range of car­diometa­bol­ic dis­eases, Bet­ter said.

coverage

Panacea Ac­qui­si­tion Corp II

Type & Stage
SPAC: Priced
CEO
Oleg Nodelman
ticker
PANA
exchange
NASDAQ
Priced Date
7 April
Total Raised
$150M

snapshot

Oleg Nodel­man’s sec­ond hold­ing com­pa­ny de­buted with a $150 mil­lion raise on April 7. Panacea II is the sec­ond blank check com­pa­ny to go pub­lic since his Ecor1 firm launched its first in June 2020. The shell found a part­ner quite quick­ly, agree­ing to take David Hung’s Nu­va­tion Bio pub­lic in Oc­to­ber of that year, with the pair com­plet­ing their merg­er in Feb­ru­ary 2021.

Achilles Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Iraj Ali
ticker
ACHL
exchange
NASDAQ
IPO Date
30 March
Total Raised
$175.5M
Priced at
$18
Current Price
$5.9

snapshot

Achilles pulled in a $175.5 mil­lion raise to take its T cell ther­a­pies tar­get­ing clon­al neoanti­gens to Nas­daq. Co-found­ed by Char­lie Swan­ton of the Fran­cis Crick In­sti­tute, the UK biotech aims to lever­age heavy se­quenc­ing to iden­ti­fy a pa­tient-spe­cif­ic set of tu­mor mu­ta­tions that it can tar­get. Un­like oth­er neoanti­gen pi­o­neers like Grit­stone On­col­o­gy, Neon Ther­a­peu­tics and BioN­Tech, Achilles is look­ing to di­rect­ly de­liv­er can­cer killing T cells rather than stim­u­lat­ing an im­mune re­sponse via a vac­cine. Achilles got a boost in Sep­tem­ber 2019 with a $121 mil­lion Se­ries B thanks to a syn­di­cate led by RA Cap­i­tal. And in No­vem­ber 2020, the biotech pulled in an­oth­er $69.7 mil­lion for an over­sub­scribed Se­ries C.

coverage

So­ma­Log­ic

Type & Stage
SPAC: To Merge
CEO
Roy Smythe
ticker
SLGC
exchange
NASDAQ
SPAC Raise
$276M
Total Deal Size
$651
Current Price
$12.08
Announced
29 March

snapshot

Eli Cas­din and Kei­th Meis­ter’s sec­ond SPAC, CM Life Sci­ences II, an­nounced its in­tent to merge with So­ma­Log­ic in late March. The Boul­der, CO-based com­pa­ny is one of a num­ber of biotechs look­ing to un­der­stand the hu­man body by look­ing at pro­teins, rather than DNA and RNA, and the deal comes just three months af­ter the com­pa­ny’s Se­ries A ex­ten­sion. With the merg­er, So­ma­Log­ic can now “dou­ble down” on its strat­e­gy of both col­lect­ing pro­teom­ic da­ta and cre­at­ing ap­pli­ca­tions for clin­i­cal tri­als us­ing that da­ta, CEO Roy Smythe told End­points at the time. The com­pa­ny says it has a to­tal of 20 val­i­dat­ed test­ing tools, known as So­maSig­nal, with an­oth­er 100 or so in de­vel­op­ment.

coverage

Uni­verse Phar­ma­ceu­ti­cals

Type & Stage
IPO: Priced
CEO
Gang Lai
ticker
UPC
exchange
NASDAQ
IPO Date
26 March
Total Raised
$25M
Priced at
$5
Current Price
$2.35

snapshot

The Ji’an, Jiangxi, Chi­na-based com­pa­ny mar­kets its pro­grams to­ward the el­der­ly in Chi­na with its tra­di­tion­al Chi­nese med­i­cine de­riv­a­tives, with the goal of ad­dress­ing phys­i­cal con­di­tions re­lat­ed to ag­ing as well as their gen­er­al well-be­ing. Found­ed in 2019, Uni­verse boasts 26 reg­is­tra­tions and ap­provals with Chi­nese reg­u­la­tors and sells 13 prod­ucts as of ear­ly March. With­in its F-1, Uni­verse says it’s split­ting the IPO raise in­to four rough­ly equal parts. There is 28% list­ed for up­grad­ing and ex­pand­ing man­u­fac­tur­ing fa­cil­i­ties, 27% for R&D, 24% for mar­ket­ing and 21% for cor­po­rate up­keep.

coverage

De­sign Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Joao Siffert
ticker
DSGN
exchange
NASDAQ
IPO Date
26 March
Total Raised
$240M
Priced at
$20
Current Price
$14.92

snapshot

De­sign se­cured its launch round just over a year ago, and is now tak­ing its Gene­TAC plat­form pub­lic. The San Diego-based biotech fo­cus­es on de­gen­er­a­tive dis­eases linked to nu­cleotide re­peat ex­pan­sions, and is co-found­ed and chaired by Pratik Shah, who pre­vi­ous­ly helped en­gi­neer two mul­ti-bil­lion M&A deals. Shah was CEO of Aus­pex for 2 years be­fore Te­va scooped it up for $3.5 bil­lion in 2015, and he was al­so chair­man at Syn­thorx, which Sanofi bought out for $2.5 bil­lion at the end of 2019. Gene­TAC, short for gene tar­get­ed chimeras, helps De­sign go af­ter what it says are more than 40 de­gen­er­a­tive dis­eases caused by nu­cleotide re­peat ex­pan­sions. The biotech has two pipeline pro­grams thus far, one in Friedre­ich’s atax­ia and one in my­oton­ic dy­s­tro­phy type-1. IPO funds are slat­ed to go to­ward both of these pro­grams, De­sign wrote in its S-1. It es­ti­mates $30 mil­lion is need­ed to take the Friedre­ich’s atax­ia can­di­date through a Phase I tri­al and $35 mil­lion to take the DM1 pro­gram through Phase I. An­oth­er $35 mil­lion will fund a cur­rent­ly undis­closed pro­gram, with the re­main­der of the cash go­ing to­ward gen­er­al R&D and cor­po­rate pur­pos­es.

coverage

Edge­wise Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Kevin Koch
ticker
EWTX
exchange
NASDAQ
IPO Date
26 March
Total Raised
$176M
Priced at
$16
Current Price
$20.05

snapshot

Edge­wise is fo­cus­ing on rare mus­cle dis­or­ders, with am­bi­tions in Duchenne mus­cu­lar dy­s­tro­phy, Beck­er mus­cu­lar dy­s­tro­phy, and limb-gir­dle mus­cu­lar dy­s­tro­phy. Its lead pro­gram is al­ready in the clin­ic. Edge­wise says that EDG-5506 is a small mol­e­cule in­hibitor for fast my­ofiber (type II) myosin de­signed to ad­dress the root cause of dy­s­trophinopathies. It’s cur­rent­ly in a Phase I tri­al for DMD, Beck­er and LGMD and Edge­wise hopes it can lim­it the hy­per­con­trac­tion stress caused by the lack of dy­s­trophin in these dis­eases. About $80 mil­lion of the IPO funds will be fun­neled to­ward this pro­gram to get it through the Phase I study and through the in­ter­im read­out of a Phase II/III study. An ad­di­tion­al $55 mil­lion is ear­marked for the re­search and de­vel­op­ment of three pre­clin­i­cal pro­grams, EDG-6289, EDG-002 and EDG-003. EDG-6289 is list­ed as a mus­cle sta­bi­liz­er, while the oth­er two are billed as mus­cle de­sen­si­tiz­ers.

 

coverage

Ike­na On­col­o­gy

Type & Stage
IPO: Priced
CEO
Mark Manfredi
ticker
IKNA
exchange
NASDAQ
IPO Date
26 March
Total Raised
$125M
Priced at
$16
Current Price
$13.03

snapshot

Based out of Boston, Ike­na got start­ed with a $49 mil­lion Se­ries A back in 2017, pulling in funds from high-pro­file back­ers like Or­biMed and At­las Ven­tures to ad­vance its im­munome­tab­o­lism ther­a­pies to treat can­cer. The idea is to lever­age meta­bol­ic path­ways and the bro­ken-down mol­e­cules that re­sult from the body’s me­tab­o­lism in­to sup­press­ing the body’s im­mune sys­tem. Ike­na’s lead in-house pro­gram is IK-930, an oral small mol­e­cule in­hibitor of a tran­scrip­tion fac­tor known as TEAD, or the tran­scrip­tion­al en­hanced as­so­ciate do­main. It deals with Hip­po path­way mu­ta­tions, with Ike­na hop­ing the can­di­date can help reg­u­late po­lar­i­ty, pro­lif­er­a­tion and tis­sue home­osta­sis, among oth­er things, in sol­id tu­mors. They’re hop­ing to sub­mit an IND here in the sec­ond half of 2021. There’s al­so two BMS-part­nered pro­grams deal­ing with TDO and IDO, al­though in­di­rect­ly. BMS owns a rough­ly 8% stake in the com­pa­ny af­ter Cel­gene teamed up with then-Kyn Ther­a­peu­tics in ear­ly 2019.

coverage

La­va Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Steve Hurly
ticker
LVTX
exchange
NASDAQ
IPO Date
25 March
Total Raised
$100.5M
Priced at
$15
Current Price
$5.92

snapshot

La­va de­buted back in May 2018 with a mod­est $18.9 mil­lion to re­search what was then a nascent field: gam­ma delta T cells. They stayed al­most en­tire­ly un­der the radar — not is­su­ing an­oth­er press re­lease for over a year and a half — un­til an­nounc­ing a can­cer bis­pecifics part­ner­ship with J&J’s Janssen in May 2020. A few months lat­er, they re­turned to the ven­ture well with $83 mil­lion in Se­ries C fi­nanc­ing and two pro­grams ready for the clin­ic. With a fo­cus on im­muno-on­col­o­gy, the Dutch-Amer­i­can biotech’s sci­en­tif­ic ap­proach in­volves build­ing bis­pe­cif­ic an­ti­bod­ies that grab a re­cep­tor on gam­ma delta T cells and link it with a par­tic­u­lar pro­tein on the tu­mor, aim­ing to on­ly ac­ti­vate while in the vicin­i­ty of the can­cer. La­va al­so says its ther­a­pies can help in­duce im­mune mem­o­ry of the can­cer, should it ap­pear again, due to gam­ma delta T cells’ sim­i­lar­i­ty to anti­gen-pre­sent­ing cells. The biotech built its re­search on the sci­en­tif­ic dis­cov­er­ies of CSO Hans van der Vli­et, an on­col­o­gist at VU Uni­ver­si­ty Med­ical Cen­ter and Can­cer Cen­ter Am­s­ter­dam.

coverage

Longview Ac­qui­si­tion II

Type & Stage
SPAC: Priced
CEO
John Rodin
ticker
LGV
exchange
NASDAQ
Priced Date
24 March
Total Raised
$600M

snapshot

The sec­ond SPAC from Glen­view Cap­i­tal has closed a $600 mil­lion raise for its shell com­pa­ny, pric­ing on March 24. Its syn­di­cate in­cludes the firm’s founder Lar­ry Rob­bins and part­ner John Rodin, who is the SPAC’s CEO.

Khosla Ven­tures Ac­qui­si­tion II

Type & Stage
SPAC: Priced
CEO
Vinod Khosla
ticker
KVSB
exchange
NASDAQ
Priced Date
24 March
Total Raised
$400M

snapshot

This is the sec­ond of three SPACs launched by Vin­od Khosla, mak­ing up $400 mil­lion out of a $1.2 bil­lion play. At the time he filed his SEC pa­per­work, Khosla wrote a brief but polem­i­cal let­ter on the im­por­tance of star­tups and rein­ven­tion, giv­ing on­ly vague hints at what he may be tar­get­ing with his shell com­pa­nies. Still, that let­ter gives ref­er­ence to CRISPR Cas9, ear­ly de­tec­tion of Alzheimer’s and de­men­tia, Genen­tech, and how the in­creas­ing use of AI could help turn the “prac­tice of med­i­cine” to the “sci­ence of med­i­cine” — no­table in­clu­sions for a tech firm that has in re­cent years in­creas­ing­ly wad­ed in­to biotech. This SPAC priced on March 24.

Khosla Ven­tures Ac­qui­si­tion III

Type & Stage
SPAC: Priced
CEO
Vinod Khosla
ticker
KVSC
exchange
NASDAQ
Priced Date
24 March
Total Raised
$500M

snapshot

This is the third of three SPACs launched by Vin­od Khosla, mak­ing up $500 mil­lion out of a $1.2 bil­lion play. At the time he filed his SEC pa­per­work, Khosla wrote a brief but polem­i­cal let­ter on the im­por­tance of star­tups and rein­ven­tion, giv­ing on­ly vague hints at what he may be tar­get­ing with his shell com­pa­nies. Still, that let­ter gives ref­er­ence to CRISPR Cas9, ear­ly de­tec­tion of Alzheimer’s and de­men­tia, Genen­tech, and how the in­creas­ing use of AI could help turn the “prac­tice of med­i­cine” to the “sci­ence of med­i­cine” — no­table in­clu­sions for a tech firm that has in re­cent years in­creas­ing­ly wad­ed in­to biotech. This SPAC priced on March 24.

Re­search Al­liance II

Type & Stage
SPAC: Priced
CEO
Peter Kolchinsky
ticker
RACB
exchange
NASDAQ
Priced Date
18 March
Total Raised
$130M

snapshot

Three days af­ter RA Cap­i­tal founder Pe­ter Kolchin­sky steered his first SPAC in­to a $300 mil­lion raise for Point Bio­phar­ma’s late-stage ra­dio­phar­ma­ceu­ti­cals play, he teed up a new one. This new SPAC raised $130 mil­lion and priced March 18. The SPAC deal with Point com­bined Kolchin­sky’s trust of $135 mil­lion along with a $165 mil­lion of­fer­ing with a slate of high-pro­file in­vestors buy­ing in­to new shares: John­son & John­son In­no­va­tion – JJDC, Inc., Sur­vey­or Cap­i­tal (a Citadel com­pa­ny), Far­al­lon Cap­i­tal Man­age­ment, LLC, BVF Part­ners LP, Box­er Cap­i­tal, Sphera Health­care, Wood­line Part­ners LP, Su­vret­ta Cap­i­tal, Fair­mount Funds, and Per­cep­tive Ad­vi­sors.

coverage

Rev­o­lu­tion Health­care Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
Jay Markowitz
ticker
REVHU
exchange
NASDAQ
Priced Date
18 March
Total Raised
$500M

snapshot

Rev­o­lu­tion Health­care Ac­qui­si­tion, the blank check com­pa­ny ARCH formed in part­ner­ship with the tech play­er Gen­er­al Cat­a­lyst, raised the $500 mil­lion it asked for in an IPO. The two firms had made it clear that they will be look­ing to take a dig­i­tal health com­pa­ny pub­lic — with the end goal be­ing part of a par­a­digm shift in­volv­ing “tech­nolo­gies like wear­able sen­sors, re­mote con­tin­u­ous da­ta cap­ture, point of care di­ag­nos­tics, tele­health ca­pa­bil­i­ties and ar­ti­fi­cial in­tel­li­gence/ma­chine learn­ing tools. Men­tal health — an area ARCH co-founder and man­ag­ing di­rec­tor Bob Nelsen has pre­vi­ous­ly said is “at the top of my mind” — will loom large in that search, as will home-based care.

coverage

Gain Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Eric Richman
ticker
GANX
exchange
NASDAQ
IPO Date
18 March
Total Raised
$40M
Priced at
$11
Current Price
$7.82

snapshot

Hav­ing sought a rel­a­tive­ly mod­est raise giv­en the run of biotechs over the last year or so to go af­ter hefty IPO cash, Gain raised $40 mil­lion for its pub­lic of­fer­ing. The com­pa­ny fo­cus­es on pro­tein mis­fold­ing, with an ini­tial goal of treat­ing lyso­so­mal stor­age dis­or­ders. They have ex­clu­sive­ly in-li­censed a pro­pri­etary plat­form to ac­com­plish this, and are tar­get­ing the GLB1 gene to cre­ate ther­a­pies for GM1 gan­gliosi­do­sis and the GBA1 for Gauch­er’s dis­ease and Parkin­son’s. It’s here where Gain will fun­nel its IPO funds, with the hope of push­ing these can­di­dates in­to Phase I/II tri­als for their re­spec­tive in­di­ca­tions. The com­pa­ny al­so has can­di­dates that try to hone in on the ID­UA gene in mu­copolysac­cha­ri­do­sis type 1 and the GALC gene in Krabbe dis­ease. Gain emerged from stealth last Ju­ly with a $10 mil­lion Se­ries B round, us­ing that fundraise to set up two IND-en­abling stud­ies. Gain set its terms on March 10.

coverage

Finch Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Mark Smith
ticker
FNCH
exchange
NASDAQ
IPO Date
18 March
Total Raised
$128M
Priced at
$17
Current Price
$14.47

snapshot

When Mark Smith helped start the non­prof­it stool bank Open­Bio­me in 2012, there weren’t re­li­able, stan­dard­ized ways to man­u­fac­ture and dis­trib­ute stool prepa­ra­tions for fe­cal mi­cro­bio­ta trans­plants. More than eight years lat­er, he be­lieves new al­ter­na­tives are on the hori­zon. Finch Ther­a­peu­tics’ S-1 dropped just days af­ter Open­Bio­me an­nounced it’s phas­ing out pro­duc­tion of new treat­ments, with an aim to save enough in­ven­to­ry to meet de­mand through­out 2021 “as a bridge to FDA-ap­proved ther­a­pies.” The biotech wants to bring one of those ther­a­pies to the mar­ket. CP101, a cap­sule made of freeze-dried stool sam­ples from healthy donors, has hit the mark on re­cur­rence-free bac­te­ria clear­ance for pa­tients with a C. dif­fi­cile in­fec­tion — re­sults that Smith, co-founder and CEO at Finch, said came at a turn­ing point for the field. Af­ter some ear­ly fail­ures and im­plo­sions, sci­en­tists may have found the right way to pack all the ben­e­fits of a fe­cal mi­cro­bio­ta trans­plant (FMT) in­to a pill and skip the cum­ber­some pro­ce­dure. Smith raised $128 mil­lion in the IPO to ac­com­plish this, and a sec­ond, con­fir­ma­to­ry tri­al is ex­pect­ed to be­gin not long af­ter Finch lands on Nas­daq and should read out in 2023. Finch set its terms on March 15.

coverage

Con­nect Bio­phar­ma

Type & Stage
IPO: Priced
CEO
Zheng Wei
ticker
CNTB
exchange
NASDAQ
IPO Date
18 March
Total Raised
$191M
Priced at
$17
Current Price
$20.39

snapshot

Found­ed by two old pals whose friend­ship traces back to a uni­ver­si­ty in Guangzhou, Chi­na, Con­nect Bio­phar­ma had snagged $115 mil­lion from a slate of mar­quee in­vestors back in Au­gust. Now, they’re ready to take the com­pa­ny to Nas­daq with a pipeline of im­mune mod­u­la­tors, led by an an­ti-IL-4Ra an­ti­body that can treat in­flam­ma­to­ry al­ler­gic dis­eases such as atopic der­mati­tis, asth­ma, and chron­ic rhi­nos­i­nusi­tis with nasal polyps. These are big in­di­ca­tions chased by some of the top names in the glob­al bio­phar­ma world — the lead drug hits the same tar­get as Re­gen­eron and Sanofi’s Dupix­ent — but Con­nect be­lieves the as­says they used in drug dis­cov­ery could make them a best-in-class con­tender. The big re­veal will come in the sec­ond half of 2021, when topline Phase IIb re­sults are due. For now, the Phase Ib re­sults will have to do, re­sults that showed a four-week treat­ment im­proved skin le­sion and pru­ri­tus in mod­er­ate-to-se­vere atopic der­mati­tis pa­tients. Con­nect set its terms on March 12.

coverage

In­stil Bio

Type & Stage
IPO: Priced
CEO
Bronson Crouch
ticker
TIL
exchange
NASDAQ
IPO Date
18 March
Total Raised
$320M
Priced at
$20
Current Price
$21.47

snapshot

By div­ing in­to tu­mor-in­fil­trat­ing lym­pho­cytes, In­stil Bio faces some high-pro­file com­pe­ti­tion not just with TIL play­ers like Io­vance, Adap­ti­m­mune and PACT Phar­ma but al­so CAR-T and TCR-T cell ther­a­py de­vel­op­ers like Gilead’s Kite and Bris­tol My­ers Squibb’s Juno. Yet the Dal­las-based biotech is all-in on the tech plat­form, in­clud­ing the man­u­fac­tur­ing know-how, it first in-li­censed then ac­quired from Im­meta­cyte, a Uni­ver­si­ty of Man­ches­ter spin­out that’s been run­ning a com­pas­sion­ate use pro­gram at a UK hos­pi­tal for eight years. Since its found­ing in 2018, it’s raised $380 mil­lion of ven­ture fund­ing to get here, and CEO Bron­son Crouch’s crew ini­tial­ly pen­ciled in an­oth­er $100 mil­lion raise, but that fig­ure was up­sized to $250 mil­lion when In­stil set its IPO terms on March 15. In­stil ul­ti­mate­ly priced at $20 per share with a $320 mil­lion raise. The plan now is to sub­mit an IND to the FDA — its first — and jump straight in­to a Phase II tri­al for melanoma lat­er this year, which In­stil hopes can sup­port a BLA sub­mis­sion as ear­ly as 2023. Giv­en how fre­quent­ly CMC is­sues trip up cell and gene ther­a­pies these days, though, there’s like­ly a long way to go for its in-house man­u­fac­tur­ing crew.

coverage

Gold­en Ar­row Merg­er

Type & Stage
SPAC: Priced
CEO
Timothy Babich
ticker
GAMCU
exchange
NASDAQ
Priced Date
17 March
Total Raised
$250M

snapshot

The SPAC from Tim­o­thy Babich has closed a $250 mil­lion raise for its shell com­pa­ny, pric­ing on March 17. Babich pre­vi­ous­ly found­ed Nexxus Hold­ings, FCM Bank, and Fortelus Cap­i­tal Man­age­ment.

Eu­ro­pean Biotech Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
Eduardo Bravo
ticker
EBACU
exchange
NASDAQ
Priced Date
16 March
Total Raised
$120M

snapshot

Ed­uar­do Bra­vo, the Big Phar­ma alum and for­mer CEO of the cell ther­a­py com­pa­ny TiGenix, launched this SPAC and gar­nered a raise of $120 mil­lion. The SPAC rep­re­sents his first ma­jor move since Take­da bought out TiGenix and their off-the-shelf stem cell tech­nol­o­gy for $600 mil­lion in 2018. Join­ing him are two man­ag­ing part­ners from Life Sci­ence Part­ners: Mar­ti­jn Klei­jwegt, who helped build the now Bio­Marin-owned biotech Pros­en­sa and a biotech that lat­er be­came J&J Vac­cines, and Mark Wegter, who is on the board of Kiadis. Bra­vo and LSP’s pitch to in­vestors is that Eu­ro­pean biotechs have been se­vere­ly un­der­val­ued, de­spite the fact that the pace of sci­en­tif­ic re­search and de­vel­op­ment on the con­ti­nent is on par with the pace in the US. The SPAC priced on March 16.

coverage

Fron­tier Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
Christian Angermayer
ticker
FRONU
exchange
NASDAQ
Priced Date
11 March
Total Raised
$230M

snapshot

The SPAC from Fal­con Edge Cap­i­tal, Pre­sight Cap­i­tal and Ape­iron In­vest­ment Group has closed a $230 mil­lion raise for its shell com­pa­ny, pric­ing on March 11. Its syn­di­cate in­cludes Fal­con Edge’s chair­man Rick Ger­son, and SPAC CEO Chris­t­ian Anger­may­er, who is Pre­sight and Ape­iron’s founder.

coverage

Long­board Phar­ma­ceu­ti­cals

Type & Stage
IPO: Priced
CEO
Kevin Lind
ticker
LBPH
exchange
NASDAQ
IPO Date
11 March
Total Raised
$80M
Priced at
$16
Current Price
$9.28

snapshot

Long­board is mak­ing the quick tran­si­tion to a pub­lic com­pa­ny just a few months af­ter spin­ning out as its own com­pa­ny. A for­mer neu­ro sub­sidiary of Are­na Phar­ma, Long­board came to life in Oc­to­ber with $56 mil­lion in fund­ing. The biotech was orig­i­nal­ly the brain­child of Are­na CEO Amit Mun­shi, who ar­rived at JP Mor­gan in 2020 with am­bi­tious plans, in­clud­ing launch­ing this sub­sidiary. The com­pa­ny has three key pro­grams in its pipeline, start­ing with LP352, a “next-gen­er­a­tion,” clin­i­cal stage 5-HT2C ag­o­nist. It’s in de­vel­op­ment for de­vel­op­men­tal and epilep­tic en­cephalopathies, and the S-1 says Long­board wants to use the IPO funds to com­plete a planned Phase Ib/IIa tri­al in this space. Fol­low­ing up is LP143, an ag­o­nist of the cannabi­noid type 2 re­cep­tor, and LP659, an S1P re­cep­tor mod­u­la­tor. Those two drugs are tar­get­ed at mi­croglial neu­roin­flam­ma­to­ry dis­eases. Long­board is seek­ing to com­plete Phase I tri­als for both pro­grams with the IPO mon­ey, per the S-1. For­mer CFO Kevin Lind was ap­point­ed as the new CEO back in Oc­to­ber. Long­board set terms for its IPO on March 8.

coverage

Prometheus Bio­sciences

Type & Stage
IPO: Priced
CEO
Mark McKenna
ticker
RXDX
exchange
NASDAQ
IPO Date
11 March
Total Raised
$190M
Priced at
$19
Current Price
$24.01

snapshot

Just a few months af­ter a $130 mil­lion crossover round, Prometheus is mak­ing the jump to the pub­lic mar­ket. Spun out of Cedars-Sinai Med­ical Cen­ter, the com­pa­ny built a con­sid­er­able por­tion of its sci­en­tif­ic foun­da­tion around the work of Stephan Tar­gan, an IBD spe­cial­ist who found­ed the IBD Cen­ter at the med­ical cen­ter about 30 years ago. Their lead pro­gram, PRA023, is an an­ti-TL1A an­ti­body. Pfiz­er has a sim­i­lar pro­gram, but McKen­na has am­bi­tions to build a broad pipeline around IBD. The crossover stretched Prometheus’ run­way out to 2023, when McKen­na hopes to have three to four pro­grams ei­ther IND-ready or in the clin­ic. In the ini­tial S-1, Prometheus is look­ing to fund de­vel­op­ment for PRA023 in ul­cer­a­tive col­i­tis and Crohn’s dis­ease, as well as their PR600 pro­gram — an an­ti-TNF an­ti­body slat­ed right now as an IBD catch-all. McKen­na hopes to com­plete a Phase II tri­al for the lead can­di­date and wrap up IND-en­abling stud­ies for PR600. Al­so in­clud­ed in the S-1 was a $1 mil­lion bonus for McKen­na should he com­plete the IPO raise by March 9. That comes on top of an in­dus­try-stan­dard $500,000 salary last year with $750,000 col­lect­ed in per­for­mance bonus­es. Prometheus set its IPO terms on March 8.

coverage

Dig­i­tal Trans­for­ma­tion Op­por­tu­ni­ties

Type & Stage
SPAC: Priced
CEO
Kevin Nazemi
ticker
DTOCU
exchange
NASDAQ
Priced Date
10 March
Total Raised
$300M

snapshot

The SPAC from Kevin Naze­mi has closed a $300 mil­lion raise for its shell com­pa­ny, pric­ing on March 10. Naze­mi cur­rent­ly serves as Part­ner at start­up in­vest­ment and in­cu­ba­tion firm Lob­by 7 Cap­i­tal.

Ori­on Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
Beau Garverick
ticker
OHPAU
exchange
NASDAQ
Priced Date
2 March
Total Raised
$414M

snapshot

The SPAC from for­mer Well­Care ex­ecs has closed a $414 mil­lion raise for its shell com­pa­ny, pric­ing on March 2. Its syn­di­cate in­cludes Beau Garv­er­ick, a for­mer se­nior VP at Well­Care Health Plans, and Ken­neth Bur­dick, the firm’s for­mer CEO.

ARYA Sci­ences Ac­qui­si­tion IV

Type & Stage
SPAC: Priced
CEO
Joseph Edelman
ticker
ARYD
exchange
NASDAQ
Priced Date
26 February
Total Raised
$130M

snapshot

Per­cep­tive’s Joseph Edel­man is no stranger to the hold­ing com­pa­nies that have now come to dom­i­nate the mar­ket,, as Arya IV priced just a few weeks af­ter Arya III an­nounced its plans to re­verse-merge with Nau­tilus. The VC firm filed Arya IV’s S-1 just one day af­ter that an­nounce­ment, in­di­cat­ing Edel­man is steer­ing a well-oiled SPAC ma­chine with no plans of slow­ing down. Much of that foun­da­tion has os­ten­si­bly been built on­ly over the last 12 months. The first Arya ac­qui­si­tion out­fit went pub­lic in 2018, but didn’t find a part­ner un­til March 2020 when it com­bined with TCR play­er Im­mat­ics. Like its three pre­de­ces­sors, Arya IV is aim­ing to go af­ter biotechs that want to take a quick­er route to Nas­daq than through the tra­di­tion­al IPO route. It raised $130 mil­lion and priced on Feb. 26.

coverage

Ibere Phar­ma­ceu­ti­cals

Type & Stage
SPAC: Priced
CEO
Osagie Imasogie
ticker
IBER
exchange
NASDAQ
Priced Date
26 February
Total Raised
$138M

snapshot

The SPAC from PIPV Cap­i­tal has closed a $138 mil­lion raise for its shell com­pa­ny, pric­ing on Feb. 26. Its syn­di­cate in­cludes the firm’s co-founder Os­agie Ima­so­gie, pre­vi­ous­ly the found­ing VP of Glax­o­SmithK­line Ven­tures.

Isle­worth Health­care Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
Robert Whitehead
ticker
ISLE
exchange
NASDAQ
Priced Date
25 February
Total Raised
$207M

snapshot

The SPAC from a for­mer Dis­ney re­sort ex­ec­u­tive has closed a $207 mil­lion raise for its shell com­pa­ny, pric­ing on Feb. 25. Its syn­di­cate in­cludes Allen Weiss, who has been a part­ner at Apol­lo Cap­i­tal Man­age­ment since 2011 and pre­vi­ous­ly served as pres­i­dent of world wide op­er­a­tions for Walt Dis­ney Parks and Re­sorts. The SPAC is run by Robert White­head, who pre­vi­ous­ly co-found­ed and ran Sprout Phar­ma­ceu­ti­cals and Slate Phar­ma­ceu­ti­cals.

ABG Ac­qui­si­tion I

Type & Stage
SPAC: Priced
CEO
Frank Yu
ticker
ABGI
exchange
NASDAQ
Priced Date
17 February
Total Raised
$150.65M

snapshot

The SPAC from Al­ly Bridge Group has closed a $150.65 mil­lion raise for its shell com­pa­ny, pric­ing on Feb. 17. Its syn­di­cate in­cludes the firm’s founder and CEO Frank Yu.

Nex­Im­mune

Type & Stage
IPO: Priced
CEO
Scott Carmer
ticker
NEXI
exchange
NASDAQ
IPO Date
12 February
Total Raised
$110M
Priced at
$17
Current Price
$16.68

snapshot

Spun out of Johns Hop­kins with a $23 mil­lion Se­ries A back in 2018, Nex­Im­mune pulled in a high­er than ex­pect­ed $110 mil­lion range. The com­pa­ny cen­ters around the idea of spe­cial­ized nanopar­ti­cles that act as anti­gen-pre­sent­ing cells to in­cite a T cell at­tack on tu­mors, and had main­tained a rel­a­tive­ly low pro­file af­ter that Se­ries A, but re­searchers pre­sent­ed ini­tial re­sults from a Phase I/II study in its lead pro­gram at ASH last De­cem­ber. That study, for NEXI-001, is eval­u­at­ing pa­tients with acute myeloid leukemia. Among the first five pa­tients dosed, the can­di­date was shown to in­duce a re­turn to base­line lev­els of ab­solute lym­pho­cyte counts with­in 3 to 35 days. The pro­gram is still in its ear­ly clin­i­cal days, how­ev­er, and aims to en­roll be­tween 22 and 28 pa­tients. Nex­Im­mune’s oth­er lead can­di­date NEXI-002 hasn’t yet had a da­ta read­out, but was dosed in the first pa­tient with mul­ti­ple myelo­ma last Oc­to­ber. The com­pa­ny’s ul­ti­mate goal for its mol­e­cules is to pro­vide a more durable at­tack, in­volv­ing more tar­gets and less like­li­hood of a set­back for pa­tients, par­tic­u­lar­ly if they can make an im­pact on naïve and mem­o­ry T cells to keep the hu­man im­mune sys­tem on alert. IPO funds will go to­ward both of these pro­grams.

coverage

Deci­bel Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Laurence Reid
ticker
DBTX
exchange
NASDAQ
IPO Date
11 February
Total Raised
$127M
Priced at
$18
Current Price
$7.92

snapshot

Deci­bel rough­ly dou­bled their cap­i­tal in No­vem­ber af­ter rais­ing $82 mil­lion in a Se­ries D, and now they’ve gone pub­lic just a cou­ple of months lat­er with an up­sized $127 mil­lion raise. The com­pa­ny spent years fo­cused on pre­vent­ing hear­ing loss, but they piv­ot­ed last win­ter. Faced with what they char­ac­ter­ized as sur­pris­ing ad­vance­ments in ge­nom­ic and re­gen­er­a­tive tech­nol­o­gy, and hav­ing failed to find a bio­mark­er that could let them run a pre­ven­ta­tive tri­al, they de­cid­ed to scrap key pro­grams and fo­cus on gene ther­a­pies that can re­store hear­ing loss. De­vel­oped in part­ner­ship with Re­gen­eron, Deci­bel’s gene ther­a­py for the same pro­tein isn’t sched­uled to hit the clin­ic un­til 2022. Re­searchers are start­ing with fix­ing a sin­gle gene in peo­ple with the OTOF mu­ta­tions, but the long-term goal is to build cures for more gen­er­al hear­ing loss and bal­ance dis­or­ders. The biotech is one of three Boston-area com­pa­nies chas­ing cures for hear­ing dis­or­ders, next to the well-heeled gene ther­a­py up­start Ak­ou­os and the stem cell re­gen­er­a­tion de­vel­op­ers at Fre­quen­cy Ther­a­peu­tics.

coverage

Se­ma4

Type & Stage
SPAC: To Merge
CEO
Eric Schadt
ticker
CMLF
exchange
NASDAQ
SPAC Raise
$443M
Total Deal Size
$793
Current Price
$11.6
Announced
10 February

snapshot

Se­ma4 is one of a clutch of star­tups that try to com­bine a wide va­ri­ety of bi­o­log­i­cal da­ta and, with ad­vanced an­a­lyt­i­cal tools like AI, turn them in­to in­sights drug de­vel­op­ers can use for dis­cov­er­ing new tar­gets or de­sign­ing new tri­als. They’ve teamed with Sanofi on a five-year dig­i­tal study to bet­ter un­der­stand asth­ma and, late last year, with J&J to iden­ti­fy pa­tients best suit­ed for can­cer tri­als. Found­ed by Er­ic Schadt, a com­pu­ta­tion­al bi­ol­o­gist from Mer­ck and Pa­cif­ic Bio­sciences, Se­ma4 at­tract­ed back­ing from Black­stone, Sec­tion 32 and oth­ers, who have poured over $240 mil­lion in­to the com­pa­ny since 2017. They al­so have a pa­tient-fac­ing side, help­ing run can­cer and re­pro­duc­tive health screens. Through­out the pan­dem­ic, they’ve con­duct­ed thou­sands of Covid-19 sur­veil­lance tests for the state of Con­necti­cut. With cash from a Se­ries C in Ju­ly, they’ve been ex­pand­ing, list­ing dozens of open jobs in bioin­for­mat­ics, lab work, dis­ease dis­cov­ery and even sales. Cas­din Cap­i­tal, hav­ing raised one of the largest ever life sci­ence SPACs, an­nounced its in­tent to merge its first shell cor­po­ra­tion, CM Life Sci­ences I, with Se­ma4 in Feb­ru­ary. The merg­er is ex­pect­ed to close in the sec­ond quar­ter.

coverage

Bio­phytis

Type & Stage
IPO: Priced
CEO
Stanislas Veillet
ticker
BPTS
exchange
NASDAQ
IPO Date
10 February
Total Raised
$20M
Priced at
$16.75
Current Price
$7.95

snapshot

Bio­phytis is tak­ing a sec­ond crack at an IPO, hav­ing pre­vi­ous­ly filed an F-1 back in May 2019. The com­pa­ny with­drew its $15 mil­lion pitch lat­er that Ju­ly due to “un­fa­vor­able mar­ket con­di­tions,” but is pen­cil­ing in the same amount for its lat­est at­tempt. If suc­cess­ful this time around, Bio­phytis plans on fun­nel­ing most of the funds in­to its lead pro­gram: a small mol­e­cule dubbed Sar­co­neos, which the biotech be­lieves can treat sar­cope­nia, Duchenne mus­cu­lar dy­s­tro­phy, and pneu­mo­nia re­lat­ed to SARS-CoV-2. The mol­e­cule is de­signed to ac­ti­vate the MAS re­cep­tor in mus­cle cells, a key com­po­nent of the Renin-an­giotensin sys­tem that con­trols things like flu­id bal­ance, blood pres­sure, car­dio­vas­cu­lar func­tion and mus­cu­lar me­tab­o­lism. Sar­co­neos’ ini­tial tar­get in­di­ca­tion, sar­cope­nia, is the age-re­lat­ed de­gen­er­a­tion of skele­tal mus­cle. It’s cur­rent­ly in a Phase II study for sar­cope­nia with topline re­sults com­ing in the sec­ond quar­ter this year, as well as a Phase II/III for Covid-19 pa­tients with pneu­mo­nia. The first in­ter­im analy­sis for that in­di­ca­tion is slat­ed for 2021’s first quar­ter.

coverage

Ada­gene

Type & Stage
IPO: Priced
CEO
Peter Luo
ticker
ADAG
exchange
NASDAQ
IPO Date
9 February
Total Raised
$140M
Priced at
$19
Current Price
$14.43

snapshot

Ada­gene dis­cov­ered a new CAR-T can­di­date ear­li­er in Jan­u­ary, and sought to cap­i­tal­ize on the mo­ment with an IPO. They suc­ceed­ed, pulling in a raise slight­ly above ex­pec­ta­tions. Their pro­gram for re­nal cell car­ci­no­ma is the first of which the biotech is aware that tar­gets a hu­man en­doge­nous retro­virus ex­pressed in the ma­jor­i­ty of clear-cell kid­ney tu­mors. The CAR-T was de­vel­oped in tan­dem with the NHLBI, and the NIH is ex­pect­ed to take over man­u­fac­tur­ing and clin­i­cal de­vel­op­ment. Ada­gene’s IPO funds are slat­ed to go else­where, with 95% of the raise pen­ciled in for R&D. The ex­ec team will di­rect 26% of funds to­ward its lead can­di­date, ADG106. A mon­o­clon­al an­ti­body and CD137 ag­o­nist, the pro­gram is cur­rent­ly in Phase Ib/IIa tri­als for ad­vanced or metasta­t­ic sol­id tu­mors and/or re­lapsed/re­frac­to­ry non-Hodgkin’s lym­phoma. An­oth­er 26% of funds are slat­ed to go to­ward Ada­gene’s oth­er two pro­grams, ADG116 and ADG126. Both pro­grams seek to block the known can­cer tar­get CT­LA-4, with ADG116 fo­cus­ing on a “unique” epi­tope. ADG116 has en­tered a Phase I study while ADG126 is still in pre­clin­i­cal stages. The last 43% al­lo­cat­ed to R&D will help fund pre­clin­i­cal can­di­dates and fur­ther plat­form de­vel­op­ment.

coverage

HH&L Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
Richard Li
ticker
HHLA
exchange
NASDAQ
Priced Date
5 February
Total Raised
$414M

snapshot

The SPAC tar­get­ing the health­care sec­tor in Asia has closed a $414 mil­lion raise for its shell com­pa­ny, pric­ing on Feb. 5. Its syn­di­cate in­cludes Ken­neth Hitch­n­er, who spent near­ly three decades at Gold­man Sachs and most re­cent­ly as the CEO of its Asia Pa­cif­ic group, ex­clud­ing Japan. Richard Li is the SPAC’s CEO.

An­gion Bio­med­ica

Type & Stage
IPO: Priced
CEO
Jay Venkatesan
ticker
ANGN
exchange
NASDAQ
IPO Date
5 February
Total Raised
$80M
Priced at
$16
Current Price
$10.24

snapshot

De­vel­op­ing small mol­e­cule ther­a­pies for acute or­gan in­juries, An­gion priced at the high end of its range and raised a slight­ly up­sized $80 mil­lion. Its lead pro­gram, ANG-3777, is cur­rent­ly en­rolling Phase III stud­ies for re­duc­ing the sever­i­ty of de­layed graft func­tion af­ter a kid­ney trans­plant. In an up­dat­ed S-1, the com­pa­ny says it plans to com­mit $15 mil­lion to $25 mil­lion to fund this tri­al as well as prep an NDA for the com­pound. If every­thing goes as planned, da­ta from the tri­al will read out by the end of 2021 with an NDA com­ing next year. ANG-3777 is al­so be­ing stud­ied in acute kid­ney in­jury as­so­ci­at­ed with car­diac surgery, with a Phase II study un­der­way. Some IPO funds will be di­rect­ed to­ward launch­ing a Phase III in this in­di­ca­tion, as well as an­oth­er Phase II study in ARDS re­lat­ed to Covid-19. An­gion has a sec­ond clin­i­cal pro­gram called ANG-3070, which is in a Phase I tri­al for a fi­brot­ic dis­ease. Rough­ly $17 mil­lion to $27 mil­lion will push this Phase I through and launch a Phase II study for the pro­gram. An­gion set its IPO terms on Feb. 1 and ex­pects to price the same week.

coverage

Phar­varis

Type & Stage
IPO: Priced
CEO
Berndt Modig
ticker
PHVS
exchange
NASDAQ
IPO Date
4 February
Total Raised
$165.4M
Priced at
$20
Current Price
$18.85

snapshot

Phar­varis is head­ing to Nas­daq af­ter rais­ing an $80 mil­lion Se­ries C back in No­vem­ber, pric­ing above its range with an up­sized $165 mil­lion raise. Their lead pro­gram, an in­hibitor and se­lec­tive small-mol­e­cule bradykinin B2-re­cep­tor an­tag­o­nist, is in de­vel­op­ment as an oral al­ter­na­tive to cur­rent­ly avail­able HAE treat­ments. Those in­clude CSL’s Hae­gar­da, Take­da’s Cin­ryze, Takhzy­ro and Fi­razyr, which are all in­jectable. Modig and his team of vet­er­ans come from Jeri­ni, the biotech that orig­i­nal­ly de­vel­oped Fi­razyr. Back in No­vem­ber, the com­pa­ny re­leased Phase I da­ta from 16 healthy vol­un­teers it said sug­gest their mol­e­cule is 24 times more po­tent than that drug. Phar­varis is launch­ing two Phase II tri­als, one for pro­phy­lax­is and one for treat­ing acute HAE at­tacks. If those are suc­cess­ful, they’ll fol­low up with piv­otal Phase III stud­ies. They plan on read­ing out Phase II da­ta for the acute pa­tients in 2022. They are al­so de­vel­op­ing a new for­mu­la­tion that they plan to even­tu­al­ly use in pro­phy­lax­is tri­als. Phar­varis could face chal­lenges, how­ev­er, as oth­er com­pa­nies have strug­gled to de­vel­op oral HAE treat­ments in the past. No­tably, BioCryst saw its shares cut in half last year af­ter Phase III re­sults fell short of in­vestor ex­pec­ta­tions.

coverage

Evax­ion Biotech

Type & Stage
IPO: Priced
CEO
Lars Wegner
ticker
EVAX
exchange
NASDAQ
IPO Date
4 February
Total Raised
$30M
Priced at
$10
Current Price
$8.09

snapshot

A Dan­ish com­pa­ny us­ing ar­ti­fi­cial in­tel­li­gence to de­vel­op im­muno-on­col­o­gy ther­a­pies, Evax­ion priced at the low end of its range. The com­pa­ny has four pro­grams it ex­pects to fund us­ing the IPO raise. Its lead pro­gram EVX-01, a per­son­al im­munother­a­py treat­ment based on the in­di­vid­ual pa­tient’s DNA. Re­searchers say they are us­ing an AI plat­form to get the body’s own im­mune sys­tem to find and kill the can­cer tu­mor cells by ap­ply­ing an al­go­rithm to se­lect mu­tat­ed pro­teins most like­ly to gen­er­ate an im­mune re­sponse. Evax­ion says it can de­liv­er the ther­a­py about 7 weeks af­ter tak­ing a pa­tient’s blood sam­ple. A Phase I/IIa read­out in blad­der can­cer, ma­lig­nant melanoma and NSCLC is ex­pect­ed in the first half of 2021. In ad­di­tion to im­muno-on­col­o­gy, Evax­ion is study­ing a vac­cine pro­gram against bac­te­r­i­al dis­eases, called EVX-B1. IPO fund­ing will help this can­di­date get through pre­clin­i­cal and CMC ac­tiv­i­ties and to a hope­ful reg­u­la­to­ry fil­ing in the sec­ond half of 2022.

coverage

Terns Phar­ma­ceu­ti­cals

Type & Stage
IPO: Priced
CEO
Senthil Sundaram
ticker
TERN
exchange
NASDAQ
IPO Date
4 February
Total Raised
$128M
Priced at
$17
Current Price
$10.8

snapshot

Terns pulled in an $87.5 mil­lion Se­ries C ear­li­er in Jan­u­ary but is now aim­ing to take ad­van­tage of the hot NASH mar­ket by go­ing pub­lic, pric­ing at the high end of its range and rais­ing an up­sized $128 mil­lion. The com­pa­ny has seen a sharp rise since be­ing found­ed with the help of Eli Lil­ly, which pro­vid­ed seed fund­ing and li­censed the com­pa­ny’s three NASH can­di­dates, back in 2018. Terns has sent two of those pro­grams to the clin­ic and is aim­ing to main­ly fund a Phase IIa tri­al for lead can­di­date TERN-101 through com­ple­tion. The pro­gram is ex­pect­ed to pro­duce topline Phase IIa da­ta in the sec­ond half of 2021 and is a liv­er-di­rect­ed non-bile acid far­ne­soid X re­cep­tor (FXR) ag­o­nist be­ing test­ed on 96 pa­tients. While Terns faces com­pe­ti­tion from oth­er NASH play­ers like In­ter­cept and Ab­b­Vie, which snagged an FXR ag­o­nist in the Al­ler­gan buy­out, the com­pa­ny thinks its can­di­date’s safe­ty pro­file is where it will stand out. Terns’ S-1 al­so de­tailed plans to com­plete a Phase I study and launch Phase II de­vel­op­ment for the pro­gram TERN-501, and to ad­vance a third pro­gram TERN-201 through Phase Ib.

coverage

Vor Bio­phar­ma

Type & Stage
IPO: Priced
CEO
Robert Ang
ticker
VOR
exchange
NASDAQ
IPO Date
4 February
Total Raised
$203.4M
Priced at
$18
Current Price
$14.3

snapshot

Vor priced at the high end of its range and raised an up­sized $203.4 mil­lion, up from an es­ti­mat­ed $150 mil­lion. That in­cludes the op­tions picked up by un­der­writ­ers af­ter the com­pa­ny priced. The goal for their IPO is to fund two of its pro­grams, VOR33 and VCAR33, that it hopes can work hand in hand. VOR33 is a pro­gram of en­gi­neered hematopoi­et­ic stem cells de­signed to re­place the stan­dard of care in trans­plant set­tings, and once those cells have been en­graft­ed, Vor says pa­tients can be treat­ed with an­ti-CD33 ther­a­pies like VCAR33. Vor cur­rent­ly has plans to start a Phase I/IIa tri­al for VOR33 in acute myeloid leukemia in the first half of this year, with funds from the raise al­so go­ing to­ward pre­clin­i­cal de­vel­op­ment for myelodys­plas­tic/myelo­pro­lif­er­a­tive neo­plasms. For VCAR33, a CD33-di­rect­ed CAR-T cell ther­a­py li­censed from the NIH in No­vem­ber, Vor is seek­ing to fund a Phase I/II tri­al from launch through com­ple­tion in adult AML. The biotech has sig­nif­i­cant back­ing, in­clud­ing a com­bined $152 mil­lion be­tween two fundrais­ing rounds with both co-led by RA Cap­i­tal. Vor was found­ed by Co­lum­bia on­col­o­gist and Pulitzer Prize-win­ning au­thor Sid­dhartha Mukher­jee, who chron­i­cled the promise and price of the first gen­er­a­tion of CAR-T ther­a­pies for the New York­er.

coverage

Im­muno­core

Type & Stage
IPO: Priced
CEO
Bahija Jallal
ticker
IMCR
exchange
NASDAQ
IPO Date
4 February
Total Raised
$258M
Priced at
$26
Current Price
$35.63

snapshot

TCR pi­o­neer Im­muno­core, pric­ing above its range with an up­sized $258 mil­lion raise, re­vealed a promis­ing set of piv­otal in­ter­im da­ta for their lead pro­gram tebenta­fusp back in No­vem­ber, and is aim­ing to use the IPO funds to fin­ish a Phase III for the can­di­date in front­line cas­es of metasta­t­ic uveal melanoma. Re­searchers gath­ered 378 pa­tients for the late-stage study, pit­ting the com­pound against in­ves­ti­ga­tors’ choice. There’s no ap­proved ther­a­py for this in­di­ca­tion, so the choice tends to be be­tween Keytru­da or Yer­voy, with some pa­tients opt­ing for dacar­bazine in­stead. At the first planned in­ter­im read­out for the in­tent-to-treat, all-com­ers pa­tient pop­u­la­tion, Im­muno­core reg­is­tered a haz­ard ra­tio of 0.51. Jal­lal told End­points News at the time that not on­ly was this the first pos­i­tive late-stage sur­vival da­ta for a TCR, but al­so the first pos­i­tive Phase III snap­shot for a bi-spe­cif­ic in a sol­id tu­mor, as well as the first such match-up against check­points. The com­pa­ny had pre­vi­ous­ly raised more than $450 mil­lion, in­clud­ing a then-record Eu­ro­pean round of $320 mil­lion for their Se­ries A in 2015. Im­muno­core was al­so the vic­tim of an al­leged “kick­back” fraud in a scheme in­volv­ing two third-par­ty sup­pli­ers, The Times re­port­ed in late Jan­u­ary. The com­pa­ny had al­so ex­pect­ed to raise an ad­di­tion­al $15 mil­lion in pri­vate place­ment from the Bill and Melin­da Gates Foun­da­tion at the same time as the IPO.

coverage

Bolt Bio­ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Randy Schatzman
ticker
BOLT
exchange
NASDAQ
IPO Date
4 February
Total Raised
$230M
Priced at
$20
Current Price
$13.76

snapshot

Bolt had most re­cent­ly raised $93.5 mil­lion in a Se­ries C last Ju­ly and raised an up­sized $230 mil­lion af­ter orig­i­nal­ly ex­pect­ing a range of $16 to $18. The main idea is one that comes from the in­ven­tor of the first can­cer vac­cine, with a lead pro­gram in BDC-1001 they call an im­mune-stim­u­lat­ing an­ti­body con­ju­gate. Where­as the vac­cine process in­volved ex­tract­ing den­drit­ic cells, ex­pos­ing them to a pro­tein from the pa­tients’ own tu­mors and re­in­fus­ing them, Bolt is try­ing to di­rect­ly ac­ti­vate den­drit­ic cells around tu­mors with­out the need for re­moval. If it works, the can­di­date would turn the en­vi­ron­ment around the tu­mor from an im­muno-sup­pres­sive to one that could not on­ly kill the tu­mors once but pre­vent a re­cur­rence. BDC-1001 en­tered a Phase I/II tri­al for pa­tients with HER2-ex­press­ing sol­id tu­mors in the first quar­ter of 2020. It’s cur­rent­ly in a dose-es­ca­la­tion stage, and is ex­pect­ed to move in­to Phase II dose ex­pan­sions this year. Af­ter the first da­ta emerge from that study, the com­pa­ny will move in­to tri­als specif­i­cal­ly for gas­tric and breast can­cer.

coverage

Sana Biotech­nol­o­gy

Type & Stage
IPO: Priced
CEO
Steve Harr
ticker
SANA
exchange
NASDAQ
IPO Date
3 February
Total Raised
$675.6M
Priced at
$25
Current Price
$22.42

snapshot

Harr’s team at Sana orig­i­nal­ly pen­ciled in a $150 mil­lion raise, but they end­ed up with a much big­ger fig­ure, re­sult­ing in a rough­ly $4.6 bil­lion val­u­a­tion. Sana al­so sold all of its avail­able op­tions, tak­ing its to­tal raise about $90 mil­lion high­er than when it first priced. That scale, which marked the high­est mar­ket cap in his­to­ry for a biotech with­out any pro­grams in the clin­ic, has drawn com­par­isons to an­oth­er Flag­ship start­up in Mod­er­na, which de­buted at a $7.5 bil­lion val­u­a­tion and has soared on the backs of its Covid-19 vac­cine to reach north of $50 bil­lion. Sana’s lofty raise is based sole­ly on the com­pa­ny’s an­i­mal da­ta and the track records of its in­vestors. As laid out in its S-1, Sana’s long-term goals are “to con­trol or mod­i­fy any gene in the body, to re­place any cell that is dam­aged or miss­ing, and to marked­ly im­prove ac­cess to cel­lu­lar and gene-based med­i­cines.” The com­pa­ny ex­pects to file its first INDs in 2022 and 2023 and is re­search­ing a range of in­di­ca­tions in in vi­vo and ex vi­vo set­tings, in­clud­ing non-Hodgkin lym­phoma, mul­ti­ple myelo­ma, and Type 1 di­a­betes. Sana has made big win­ners out of Bob Nelsen’s ARCH Ven­tures and Flag­ship, who will com­bine to own 43% of shares af­ter the IPO clos­es. And they’re bank­ing the com­pa­ny turns out to be a suc­cess sto­ry like Mod­er­na — or per­haps some­thing even big­ger. The hype is re­al, as Sana closed up rough­ly 60% in its first day and a half of trad­ing.

coverage

Lan­dos Bio­phar­ma

Type & Stage
IPO: Priced
CEO
Josep Bassaganya-Riera
ticker
LABP
exchange
NASDAQ
IPO Date
3 February
Total Raised
$100M
Priced at
$16
Current Price
$14.95

snapshot

The lead com­pa­ny in the port­fo­lio of Chris Garabe­di­an’s fund with Per­cep­tive, Lan­dos did not im­press on its last da­ta dump. And since pric­ing at the mid­point late Wednes­day night, Lan­dos shares have since fall­en about 31% from the IPO. In Jan­u­ary, a Phase II proof-of-con­cept tri­al in its lead com­pound, BT-11, missed on all its pri­ma­ry end­points in IBD de­spite “pos­i­tive” signs it mea­sured up with stan­dard of care. Vir­ginia Tech pro­fes­sor Josep Bas­saganya-Ri­era has stud­ied the path­way known as Lan­thio­n­ine Syn­thetase C-Like 2 (LAN­CL2) for more than a decade, and BT-11 aims to lever­age this re­search. Lan­dos is prepar­ing a Phase III tri­al for lat­er this year, seek­ing to eval­u­ate main­te­nance of clin­i­cal re­mis­sion af­ter a year fol­low­ing the 12-week in­duc­tion pe­ri­od. BT-11 is one of three Lan­dos com­pounds uti­liz­ing this path­way, with lead in­di­ca­tions in ul­cer­a­tive col­i­tis and Crohn’s dis­ease, and Lan­dos al­so has plans for BT-11 in eosinophilic esophagi­tis, pso­ri­a­sis and atopic der­mati­tis. The com­pa­ny has ad­vanced a sec­ond pro­gram in­to the clin­ic in IBD as well, launch­ing a Phase I study of NX-13 last Ju­ly.

coverage

Sen­sei Bio­ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
John Celebi
ticker
SNSE
exchange
NASDAQ
IPO Date
3 February
Total Raised
$133M
Priced at
$19
Current Price
$11.63

snapshot

For­mer­ly known as Panacea, Sen­sei had pen­ciled in a $100 mil­lion raise for their bac­te­rio­phage-based can­cer ther­a­pies and pulled in an up­sized raise. Sen­sei is one of a few play­ers ap­ply­ing the bac­te­rio­phages in the can­cer space, though they’ve been stud­ied for decades. Their lead can­di­date, SNS-301, is be­ing stud­ied in com­bi­na­tion with Mer­ck’s Keytru­da for squa­mous cell car­ci­no­ma of the head and neck. The Phase I/II tri­al had en­rolled 11 pa­tients as of Dec 10, and 7 of the 10 evalu­able pa­tients saw some form of dis­ease con­trol. That in­clud­ed one pa­tient with a par­tial re­sponse and two who achieved long-stand­ing sta­ble dis­ease. Sen­sei ex­pects to read out topline da­ta by the end of 2021, which they hope will pave the way to a reg­is­tra­tion-en­abling tri­al. This IPO push comes just a few months af­ter Sen­sei raised $28.5 mil­lion in what they called a Se­ries AA round. Sen­sei is al­so de­vel­op­ing two pre­clin­i­cal can­di­dates — SNS-401, a po­ten­tial vac­cine cock­tail against Merkel cell car­ci­no­ma; and SNS-VISTA, an an­ti­body-based ther­a­peu­tic. With a mar­ket cap of about $640 mil­lion, Sen­sei shares have ticked up about 30% since pric­ing.

coverage

Brook­line Cap­i­tal Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
Samuel Wertheimer
ticker
BCAC
exchange
NASDAQ
Priced Date
29 January
Total Raised
$57.5M

snapshot

The SPAC from Brook­line Cap­i­tal Mar­kets has closed a $57.5 mil­lion raise for its shell com­pa­ny, pric­ing on Jan. 29. Its syn­di­cate in­cludes Samuel Wertheimer, a for­mer part­ner at Or­biMed.

Ignyte Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
David Rosenberg
ticker
IGNYU
exchange
NASDAQ
Priced Date
28 January
Total Raised
$57.5M

snapshot

The SPAC from Laden­burg Thal­mann has closed a $57.5 mil­lion raise for its shell com­pa­ny, pric­ing on Jan. 28. Its syn­di­cate in­cludes the firm’s co-CEO and chair­man David Rosen­berg.

Health­Cor Catalio Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
Christopher Gaulin
ticker
HCAQ
exchange
NASDAQ
Priced Date
27 January
Total Raised
$207M

snapshot

The SPAC from Health­Cor Man­age­ment and Catalio Cap­i­tal Man­age­ment has closed a $207 mil­lion raise for its shell com­pa­ny, pric­ing on Jan. 27. Its syn­di­cate in­cludes Health­Cor port­fo­lio man­ag­er Christo­pher Gaulin and George Petrochei­los, a co-founder at Catalio.

Biotech Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
Michael Shleifer
ticker
BIOT
exchange
NASDAQ
Priced Date
26 January
Total Raised
$230M

snapshot

The SPAC from CRO and ven­ture in­vestor SPRIM has closed a $230 mil­lion raise for its shell com­pa­ny, pric­ing on Jan. 26. Its syn­di­cate in­cludes SPRIM’s man­ag­ing part­ner Michael Shleifer.

coverage

One Eq­ui­ty Part­ners Open Wa­ter I

Type & Stage
SPAC: Priced
CEO
Todd Bradley
ticker
OEPW
exchange
NASDAQ
Priced Date
22 January
Total Raised
$345M

snapshot

The SPAC from One Eq­ui­ty Part­ners has closed a $345 mil­lion raise for its shell com­pa­ny, pric­ing on Jan. 22. Its syn­di­cate in­cludes the firm’s op­er­at­ing part­ner Todd Bradley.

SCP & CO Health­care Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
Scott Feuer
ticker
SHAC
exchange
NASDAQ
Priced Date
22 January
Total Raised
$230M

snapshot

The SPAC from SCP & CO has closed a $230 mil­lion raise for its shell com­pa­ny, pric­ing on Jan. 22. Its syn­di­cate in­cludes the firm’s man­ag­ing di­rec­tors Scott Feuer and Bryan Crino.

FoxWayne En­ter­pris­es Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
Robb Knie
ticker
FOXWU
exchange
NASDAQ
Priced Date
20 January
Total Raised
$57.5M

snapshot

The SPAC from Hoth Ther­a­peu­tics CEO Robb Knie has closed a $57.5 mil­lion raise for its shell com­pa­ny, pric­ing on Jan. 20. Its syn­di­cate in­cludes Knie and Sun­deep Agraw­al.

coverage

Health­care Cap­i­tal Corp

Type & Stage
SPAC: Priced
CEO
William Johns
ticker
HCCC
exchange
NASDAQ
Priced Date
15 January
Total Raised
$275M

snapshot

The SPAC from in­de­pen­dent life sci­ences and tech in­vestor David Milch has closed a $275 mil­lion raise for its shell com­pa­ny, pric­ing on Jan. 15. Its syn­di­cate in­cludes Milch, who has been in­vest­ing for over 30 years, as well as CEO William Johns and CFO Philip Ba­seil.

Big Cy­press Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
Samuel Reich
ticker
BCYP
exchange
NASDAQ
Priced Date
12 January
Total Raised
$115M

snapshot

The SPAC from for­mer Bis­cayne Neu­rother­a­peu­tics co-founder Samuel Re­ich has closed a $115 mil­lion raise for its shell com­pa­ny, pric­ing on Jan. 12. Its syn­di­cate in­cludes Re­ich, who found­ed Bis­cayne in 2011 and lat­er sold it to Su­per­nus in 2018, as well as Jef­frey Spra­gens, who pre­vi­ous­ly co-found­ed SafeStitch Med­ical in 2005 and served as CEO un­til its merg­er with TransEn­ter­ix in 2013.

coverage

KL Ac­qui­si­tion

Type & Stage
SPAC: Priced
CEO
Doug Logigian
ticker
KLAQ
exchange
NASDAQ
Priced Date
8 January
Total Raised
$287.5M

snapshot

The SPAC from Kennedy Lewis In­vest­ment Man­age­ment has closed a $287.5 mil­lion raise for its shell com­pa­ny, pric­ing on Jan. 8. Its syn­di­cate in­cludes Kennedy Lewis part­ner Doug Logi­gian, who pre­vi­ous­ly worked at Black­stone, as well as oth­er Kennedy Lewis part­ners.

Cul­li­nan On­col­o­gy

Type & Stage
IPO: Priced
CEO
Owen Hughes
ticker
CGEM
exchange
NASDAQ
IPO Date
8 January
Total Raised
$249.9M
Priced at
$21
Current Price
$22.54

snapshot

Cul­li­nan in­vestors aren’t buy­ing in­to a sin­gle drug or plat­form, but in­stead a sort of um­brel­la with sev­er­al dif­fer­ent hot ap­proach­es to fight­ing can­cer. The com­pa­ny works with a hub-and-spoke mod­el much like Bridge­Bio, re­serv­ing in­di­vid­ual as­sets in sep­a­rate en­ti­ties op­er­at­ing un­der the flag­ship. That way, ex­ecs can cen­tral­ize R&D, BD and ad­min­is­tra­tive work while bet­ting on as many dif­fer­ent ap­proach­es as pos­si­ble. Cul­li­nan has nine such projects un­der the um­brel­la, with the most re­cent pro­gram, known as Cul­li­nan Am­ber an­nounced last Ju­ly. The whole op­er­a­tion’s first drug in the clin­ic is CLN-081 and the on­ly tar­get­ed ther­a­py in the mix, tar­get­ing NSCLC with EGFR ex­on 20 in­ser­tion mu­ta­tions. Oth­er tech ap­proach­es rep­re­sent­ed in­clude bis­pecifics, NK cell-en­gag­ing an­ti­bod­ies, cy­tokine fu­sion pro­tein, as well as TCR-based ther­a­py. Cul­li­nan filed for its IPO short­ly af­ter pre­sent­ing what they called ini­tial clin­i­cal da­ta on CLN-081, and on the heels of an­nounc­ing a $131 mil­lion Se­ries C.

coverage

Gra­cell Biotech­nolo­gies

Type & Stage
IPO: Priced
CEO
Wei William Cao
ticker
GRCL
exchange
NASDAQ
IPO Date
8 January
Total Raised
$209M
Priced at
$19
Current Price
$12.24

snapshot

The first biotech IPO of 2021, Gra­cell is mov­ing a CAR-T ther­a­py orig­i­nat­ing from Chi­na in­to the pub­lic eye. Gra­cell was built on two tech­nolo­gies: FasT­CAR, which promis­es to short­en man­u­fac­tur­ing turn­around time to 22-36 hours; and Tru­U­CAR, its take on al­lo­gene­ic CAR-T. Ad­di­tion­al­ly, the com­pa­ny has its own pro­duc­tion site in Suzhou to keep the key process­es in-house. In its F-1 fil­ing, Gra­cell re­port­ed that GC012F, its au­tol­o­gous CAR-T ther­a­py tar­get­ing both BC­MA and CD19, has treat­ed 16 pa­tients with re­lapsed/re­frac­to­ry mul­ti­ple myelo­ma, and that 15 achieved and main­tained a re­sponse. The high­est dose co­hort record­ed a 100% strin­gent com­plete re­sponse rate for the six evalu­able pa­tients. Though it faces tough com­pe­ti­tion from well-fund­ed US com­pa­nies like Al­lo­gene, Lyell and even Sana, Gra­cell is plung­ing full speed ahead with a reg­is­tra­tional tri­al in Chi­na that just got cleared and plans to start US tri­als in 2021.

coverage

Omega Al­pha SPAC

Type & Stage
SPAC: Priced
CEO
Otello Stampacchia
ticker
OMEG
exchange
NASDAQ
Priced Date
7 January
Total Raised
$120M

snapshot

The SPAC from Omega Fund Man­age­ment has closed a $120 mil­lion raise for its shell com­pa­ny, pric­ing on Jan. 7. Its syn­di­cate in­cludes Otel­lo Stam­pac­chia, man­ag­ing di­rec­tor at Omega and a ma­jor in­vestor in biotechs like Kro­nos and Spruce.

coverage