The public markets have hammered biopharma companies conducting IPOs in the past four years, with the number of debuts dwindling and the amounts raised falling dramatically as well. But one of the more telling measures is price performance, which is significantly down for all IPOs completed since 2020. The stock prices of 17 firms that entered the U.S. markets in 2023 are currently at a decline of 23.6% on average, with only four companies trading above their offering price. It is a sobering observation for which investors are most certainly taking notice, but they may also note that IPOs this year are performing better than IPOs of each of the prior three years, with some companies from the class of 2020 going belly up and several others exiting their listings through M&A transactions.

ABVC’s licensing deal for CNS therapies launches its stock

ABVC Biopharma Inc. entered a multiyear, global licensing agreement for its CNS drugs to treat major depressive disorder (MDD) and attention deficit hyperactivity disorder (ADHD). The license deal with Aibtl Biopharma Inc. would cover clinical trial, registration, manufacturing, supply and distribution rights. The products were valued at $667 million by a third party, according to ABVC. ABVC completed a phase II study of ABV-1504, a norepinephrine transporter inhibitor for treating MDD. ABV-1505, a norepinephrine transporter inhibitor containing polygala tenuifolia extract, for treating adult ADHD is in a phase II study. ABVC’s stock (NASDAQ:ABVC) stormed dramatically higher at midday, rising 162% to $2.24 per share.

$92M series A backs Triveni’s atopic dermatitis push

Triveni Bio Inc. disclosed a $92 million series A financing co-led by Atlas Venture and Cormorant Asset Management. The money will fund advancement of the company's lead program, TRIV-509, through a proof-of-concept study in atopic dermatitis and boost the broader pipeline. Also participating in the round were Orbimed, the private equity business of Viking Global Investors, Invus, Polaris Partners, Alexandria Venture Investments, and others.

US senator: Time to turn rare disease passion into action with new pathway

In a show of bipartisan solidarity, members of the U.S. Senate’s Special Committee on Aging today voiced their support for a new regulatory pathway to quicken access to new drugs for rare diseases that have no approved treatments. Because patients, especially children and those with progressive, 100% fatal diseases like amyotrophic lateral sclerosis, fall through the gaps in the current expanded access and right-to-try programs, another pathway is needed, according to the Promising Pathways Act sponsor and ranking member of the committee, Sen. Mike Braun (R-Ind.). In the face of these devastating diseases, “a more compassionate flexible path has got to be there for patients. . . . It’s time for us to turn the passion into action, and we’re going to do so,” he added.

Newco news: Longevity AI-biotech Gero raises $6M in series A round for aging research

“Aging is not only slow, but it is irreversible, and that is what most people have been suspecting,” Gero Pte Ltd.’s CEO Peter Fedichev recently told BioWorld. “[But] aging is not an inevitable part of human existence.” By setting limits to what science can do – and not do – for aging, the generative artificial intelligence (AI) biotech Gero is trying to figure out and, at the same time help the industry, “see what is actionable, reversible and what may not be” to help people avoid “hitting their heads against the wall” when tackling aging and aging-related diseases.

Singapore rolls out new evidence requirements for drug substances

Singapore’s Health Science Authority is rolling out new drug substance evidence requirements following consultations with stakeholders, and drugmakers will have one year to comply with the new regulations.

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