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IPOs are boom­ing in 2021, and com­pa­nies are go­ing pub­lic ear­li­er than ever.

About 45% of IPOs of­fered in the first half of the year were for com­pa­nies that were still in pre­clin­i­cal and dis­cov­ery stages. That’s a big change for the 66 bio­phar­ma ther­a­peu­tics and plat­form com­pa­nies who com­plet­ed their IPO in the first half of the year, rais­ing $9.3 bil­lion in to­tal.

The hype sur­round­ing SPACs has been lighter in Q2, com­pared to a busy Q1. There have been 93 health­care and life sci­ence-fo­cused SPAC IPOs since Jan­u­ary 2020, with 47 of those rais­ing $15.85 bil­lion in 2021.

Eras­ca and Ima­go Bio­Sciences each pen­ciled in $100 mil­lion rais­es at the end of June as place­hold­er num­bers, while TScan did the same in April. All three priced their IPOs this week. Here’s what you need to know about the lat­est biotechs head­ed to Wall Street:

Nas­daq rings in Jonathan Lim’s next can­cer play

Clin­i­cal-stage on­col­o­gy com­pa­ny Eras­ca has priced its up­sized IPO at $16 a share, and has sold 18.75 mil­lion shares, the com­pa­ny an­nounced Thurs­day evening. Pro­ceeds from the of­fer­ing are ex­pect­ed to be around $300 mil­lion.

The com­pa­ny is lead­ing with a ther­a­py for pa­tients with RAS/MAPK path­way-dri­ven can­cers. Mol­e­c­u­lar al­ter­ations in RAS and the MAPK path­way ac­count for 5.5 mil­lion new cas­es of can­cer across the world each year, the com­pa­ny de­tailed in its S-1. Of those pa­tients, more than 90% have no treat­ment op­tions. The com­pa­ny said it ex­pects to have four can­di­dates in the clin­ic with­in the next year and a half, and file an in­ves­ti­ga­tion­al new drug ap­pli­ca­tion every 12-18 months over the next five years. Its two clin­i­cal pro­grams right now are ERAS-601, which was li­censed from NiKand Ther­a­peu­tics, and ERAS-007, which was ac­quired from ASN Prod­uct De­vel­op­ment.

“We be­lieve our world-class team’s ca­pa­bil­i­ties and ex­pe­ri­ence, fur­ther guid­ed by our sci­en­tif­ic ad­vi­so­ry board, which in­cludes the world’s lead­ing ex­perts in the RAS/MAPK path­way, unique­ly po­si­tion us to achieve our bold mis­sion of eras­ing can­cer,” it said.

The com­pa­ny was launched by CEO Jonathan Lim in 2018, af­ter he auc­tioned his com­pa­ny Igny­ta to Roche for $1.7 bil­lion. Last Au­gust, the com­pa­ny raised its fundrais­ing to­tal to $300 mil­lion. Eras­ca says it has 11 pro­grams in the works.

Eras­ca will trade un­der the tick­er $ERAS, and the IPO is ex­pect­ed to close on Ju­ly 20. JP Mor­gan, Mor­gan Stan­ley, Bo­fA Se­cu­ri­ties, Ever­core ISI and Guggen­heim Se­cu­ri­ties are act­ing as joint book-run­ning man­agers.

Ima­go prices IPO in quest for bone mar­row can­di­date, scores new in­vest­ment by Pfiz­er

A lit­tle more than a month af­ter Ima­go an­nounced pos­i­tive Phase II re­sults in a tri­al for bomedem­stat, Ima­go has used that to help pro­pel it­self to an IPO priced on the high end of its range.

Ima­go Bio­Sciences has al­so priced its IPO at $16 a share, sell­ing 8.4 mil­lion shares to raise $134 mil­lion. Con­cur­rent­ly, it says Pfiz­er will be mak­ing a pri­vate pur­chase of its stock for an ad­di­tion­al $20 mil­lion.

Ima­go is de­vel­op­ing small mol­e­cule prod­ucts that in­hib­it ly­sine-spe­cif­ic demethy­lase 1 (LSD1), an en­zyme that plays a role in the pro­duc­tion of blood cells in blood mar­row.

About 83% of pa­tients with es­sen­tial throm­bo­cythemia, a dis­ease in which the body pro­duces too many platelets, saw a sig­nif­i­cant re­duc­tion of platelet counts while main­tain­ing sta­ble he­mo­glo­bin lev­els.

In a study of 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. In 34 pa­tients eval­u­at­ed for mu­tant al­lele fre­quen­cies, the num­ber de­creased in 44% of pa­tients and re­mained the same in 47%, with no new mu­ta­tions in the 660 days that fol­lowed.

Ima­go will be list­ed on the Nas­daq un­der $IM­GO. Jef­feries, Cowen, Stifel and Guggen­heim Se­cu­ri­ties are joint bookrun­ners on the deal.

Ahead of an­tic­i­pat­ed IND ap­pli­ca­tions, TScan heads to Nas­daq

A No­var­tis-backed Har­vard spin­out look­ing to build a TCR repos­i­to­ry has priced its IPO on the low end of its range, the com­pa­ny an­nounced Thurs­day.

TScan Ther­a­peu­tics has sold 6.7 mil­lion shares at $15 to raise $100 mil­lion. This brings the com­pa­ny’s mar­ket val­ue to $384 mil­lion. It will trade on the Nas­daq un­der $TCRX.

At the start of the year, TScan land­ed a $100 mil­lion crossover round to con­tin­ue its work on T cell tar­gets.

The com­pa­ny is de­vel­op­ing a pipeline of T cell re­cep­tor-en­gi­neered ther­a­pies for the treat­ment of hema­to­log­i­cal and sol­id tu­mors. INDs for two of its liq­uid tu­mor can­di­dates will be sub­mit­ted in Q4 of this year, and INDs for three of its four sol­id tu­mor can­di­dates will be sub­mit­ted by the sec­ond half of 2022.

Mor­gan Stan­ley, Jef­feries, Cowen, and Bar­clays are joint bookrun­ners.

The European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) recommended nine drugs for approval this week while also giving thumbs up for six expanded indications, including Novo Nordisk’s approved obesity medication Wegovy for younger people. Wegovy is already approved as an obesity treatment in the EU for adults, and the new indication would allow prescriptions for adolescents aged 12 and older.

RNA biotech GreenLight Biosciences has been handed an offer for potential acquisition.

GreenLight said in a release that it has received a non-binding “indication of interest” from Fall Line Endurance Fund to acquire GreenLight’s capital stock for $0.60 per share in cash. The release said any potential agreement between the two parties would depend on certain conditions.

Through a special committee, the biotech will evaluate the offer but added there’s no certainty a deal will go forward. GreenLight will also not make any more announcements until a deal comes through or “otherwise determines” a statement is necessary.

A public T cell biotech’s chief executive has decided to leave the company.

TScan Therapeutics said Friday morning that CEO David Southwell stepped down earlier this week, leaving both his chief executive and board member roles. Filling in is Gavin MacBeath, the company’s CSO and COO. He became the acting CEO on Tuesday, and will continue to remain CSO and COO, TScan’s announcement read.

The German life science group Sartorius will be picking up French contract manufacturer Polyplus for the price of €2.4 billion, or $2.6 billion.

On Friday, Sartorius announced the acquisition through its French subgroup, Sartorius Stedim Biotech, which will be acquiring Polyplus from private investors ARCHIMED and WP GG Holdings IV. Polyplus has 270 employees and produces materials and components that go into making viral vectors that are used in cell and gene therapies. This includes DNA/RNA reagents as well as plasmid DNA. Polyplus has locations in France, Belgium, China and the US.