Biotech IPOs continues to be almost non-existent, but Acelyrin wants to see if the public markets have an appetite for its lead drug candidate. The small protein drug could match up favorably against blockbuster biologics and it has reached pivotal testing in three inflammatory disorders.
Mineralys Therapeutics upsized its IPO, raising capital to finance clinical trial plans for a molecule that could become an alternative to currently available hypertension medicines. The Mineralys molecule takes a similar approach to a drug candidate that AstraZeneca is acquiring in a $1.3 billion deal.
At the Payer Insights sessions on Day 1 of ViVE 2024, a panel on prior authorization offered compelling insights from speakers who shared the positive developments in this area after years of mounting frustration. Speakers also shared challenges as they work with providers to figure out how policy developments and technology will work in practice.
Despite challenging financial market conditions, clinical-stage Structure Therapeutics was able to upsize its IPO. Much of the new cash will support its lead program, an oral small molecule that could weigh in on the diabetes and obesity indications currently dominated by blockbuster injectable medicines.
Eli Lilly’s stalled cancer drug prexasertib has another chance under Acrivon Therapeutics, whose IPO will fund a fresh slate of mid-stage clinical trials. While attention is focused on the former Lilly asset, also at stake is Acrivon’s technology platform that relies on proteomics rather than genomics for identifying patients appropriate for targeted therapies.
Third Harmonic Bio’s stock market debut was the only biotech IPO that crossed the $100 million threshold in the third quarter as the slowdown in IPO activity showed little sign of changing. Small deals continue to represent most of the IPO activity.
Third Harmonic Bio’s IPO raised $183.3 million for clinical development of an inflammation drug licensed from Novartis. The biotech was able to find enough investor interest to increase the deal size, offering 1.9 million more shares than initially planned.
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Summer weather is heating up but the market for IPOs remains cold. Bausch + Lomb’s successful return to the public markets in the second quarter proved to be an exception as the slowdown in IPO activity reached levels not seen in years.
PepGen’s technology improves the delivery of a therapy to more tissue types and the clinical-stage biotech plans to use its IPO cash to continue developing its lead program for Duchenne muscular dystrophy. Meanwhile, eye products giant Bausch + Lomb returned to the public markets as a standalone company. Both the PepGen and Bausch + Lomb IPOs priced below their respective price ranges.
Takeda Pharmaceutical spinout HilleVax broke the biotech IPO drought with a $200 million stock market debut for clinical development of a norovirus vaccine. Two eye health companies marked the other IPO activity: Belite Bio went public while Bausch + Lomb set financial terms for what could become one of the biggest IPOs of the year.
AN2 is developing an antibiotic based on boron chemistry that could offer advantages over carbon-based molecules. The biotech plans to advance its drug candidate, licensed from Pfizer, to a pivotal test in a rare and potentially fatal lung infection caused by mycobacteria.
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Two biotechs are braving the roiling financial markets to raise money for clinical trials. AN2 Therapeutics is preparing for a pivotal test of its boron-based drug candidate for a rare, chronic lung disease. Okyo Pharma also filed IPO paperwork as it looks to advance to the clinic with its dry eye disease drug.
Clinical-stage Arcellx raised $123.8 million from its IPO, which the company will use to advance to a pivotal test for its lead program, a CAR T-cell therapy for multiple myeloma. Though Arcellx trails its large pharmaceutical rivals, the biotech contends its technology produces cell therapies with key advantages.
It’s the first week of the new year, and the life sciences sector continued the IPO momentum of 2021 as Wall Street welcomed three new biotech companies. Here’s a look at the IPOs of Amylyx Pharmaceuticals, CinCor Pharma, and Vigil Neuroscience, which raised a combined $482 million to support work on drugs addressing neurodegenerative and cardiovascular disorders.
The biggest biotech IPO of 2021 belongs to a cell therapy developer that has yet to reach the clinic. Cell therapy and artificial intelligence were hot categories of newly public companies, but even though IPOs reached record levels this year that streak is not expected to continue in 2022.
Vaxxinity, a clinical-stage biotech with vaccine technology that gets the body to produce therapeutic or protective antibodies, raised $78 million from an IPO that priced below the targeted price range. In addition to its lead Alzheimer’s disease program, Vaxxinity’s pipeline includes product candidates for Parkinson’s disease, migraine, and Covid-19.