At just under $30 billion raised through the third quarter, company financings have reached a three-year high in the ever-burgeoning industry of medical technology. The amount, according to data collected by BioWorld MedTech, compares with $25.76 billion for all of 2018, and $19.4 billion for all of 2017, indicating an increase of 15% and 53%, respectively.
SUZHOU, China, and HONG KONG – Despite investor worries over the long-term political and economic stability of Hong Kong after almost four months of social unrest and frequent violent protests, Chinese biotech executives remain optimistic about the outlook for the prospects for the market.
BOSTON – How are med-tech companies reacting to the findings of the EY Pulse of the Industry report 2019? Members of a panel examined this question this week during the Medtech Conference in Boston, while also offering their insight on where the industry is headed.
HONG KONG & BEIJING – Chinese biosimilar make Shanghai Henlius Biotech Inc. is ready to list on the Hong Kong Stock Exchange (HKEX) on its second try. The firm plans to issue 64.7 million shares globally under the stock code 2696. The maximum offer price is HK$57.8 per share, which means the biosimilar maker could raise as much as HK$3.74 billion (US$477 million).
Ziopharm Oncology Inc., of Boston, said it entered into an agreement with existing investors for the exercise of previously issued warrants to purchase common stock in a private placement, being led by existing stockholder, MSD Partners LP, that is expected to result in gross proceeds of approximately $45 million.
Curza Global LLC, of Salt Lake City, received a $5.25 million investment from Novo Holdings Repair Impact Fund to support the advancement of its CZ-02 program that targets multidrug-resistant gram-negative infections.
Benchling Inc., of San Francisco, said it closed a $34.5 million series C funding led by Menlo Ventures with new investors Lead Edge Capital and Y Combinator Continuity and returning investors Benchmark and Thrive Capital.
X-vax Technology Inc., of Jupiter, Fla., raised $56 million in an upsized series A financing with participation from strategic and institutional investors, including JJDC Inc., Adjuvant Capital, Serum Institute of India, Alexandria Venture Investments and FF DSF VI, a scout investment vehicle out of Founders Fund.
Retrotope Inc., of Los Altos, Calif., closed a $20 million series C financing that was co-led by new investor Mehta Family Partners and current shareholder Timur Artemev.
Tonix Pharmaceuticals Holding Corp., of New York, said it closed an underwritten public offering of 9 million shares at 60 cents each, for total gross proceeds of approximately $5.4 million.
