AN2 Therapeutics Inc., a company developing a once-daily treatment for people with chronic non-tuberculous mycobacterial lung disease, raised $69 million in an upsized IPO. The offering of 4.6 million shares (NASDAQ:ANTX), initially priced at $15 each, met a modest market reception, with shares rising to $15.40 by market close on March 25. The Menlo Park, Calif.-based company is developing epetraborole, a boron-containing small-molecule inhibitor of bacterial leucyl-tRNA synthetase, in-licensed from Anacor Pharmaceuticals Inc., now part of Pfizer Inc.

Shouyao Holdings Co. Ltd. raised ¥1.48 billion ($233 million) in a listing on the Shanghai STAR Market to support the company’s ongoing clinical programs, led by a second-generation anaplastic lymphoma kinase inhibitor. Company shares (SHA:688197) debuted at ¥39.90, then fell 19.5% to close at ¥32.11 on March 23.

Fungal biosphere specialist Lifemine Therapeutics Inc. has struck a goldmine through a $175 million series C financing and an R&D collaboration allowing Glaxosmithkline plc (GSK) to use the company's platform to identify small-molecule leads.

In its drive to rewrite the rules of the tumor microenvironment so it can capture of the holy grail of successfully battling solid tumors by using T cells, Affini-T Therapeutics Inc. has completed an oversubscribed $175 million. The focus is to develop multiple oncogene driver programs for treating solid tumors such as those with mutated KRAS variants into the clinic, pursue complementary technology licenses to strengthen its cell therapy platform and to optimize its discovery engine.