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FINANCINGS NEWS
In the thick of third quarter earnings, it's sometimes easy to forget that the biotech sector has generated a bumper crop of initial public offerings (IPO) this year, with the record of 66 U.S. IPOs set all the back in 2000 poised to fall before year-end.

Selecta Biosciences Inc. Wednesday said it raised more than $20 million in equity funding from new and existing investors to advance its lead program, the severe gout drug SEL-212, and its early stage pipeline of antigen-specific immune therapies.

Everything old is new again for Zynerba Pharmaceuticals Inc., which hit the ground running with a $13 million private raise that included Perceptive Advisors LLC and undisclosed high net worth individual investors. Proceeds from the round will be used to develop the Radnor, Pa.-based company's transdermal cannabinoid therapies, believed to be the first of their kind.

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