Entrada Therapeutics Inc. is the largest of four biopharmas making new moves on IPOs as the company upsized its offer from 7.5 million to 9.07 million shares priced at $20 each. Last year saw $22.48 billion in biopharma IPOs, a record, according to BioWorld stats. Aside from a record-setting 2020, this year’s IPO total far outpaces every other year in the past decade. With the end of 2021 in sight, there have been 110 completed global biopharma IPOs totaling $18.13 billion.
Shouti Inc. raised $100 million in a series B round led by BVF Partners LP to advance its discovery platform for designing oral medicines and to speed up the development of its candidates. The Shanghai and California-based company has secured a total of $158 million in funding so far.
DUBLIN – Novadip SA raised €19 million (US$22.1 million) in a first close of a series B round to progress its autologous bone regeneration therapy, NVD-003, on either side of the Atlantic. The company is also working on an allogeneic regenerative approach, which is still preclinical.
Quanta Therapeutics Inc., a company developing therapies for RAS-driven cancers, closed $60 million in series C financing led by Surveyor Capital and Vida Ventures. The South San Francisco-based company said it would use proceeds from the financing to advance oncology-focused programs targeting RAF1 and KRAS through clinical candidate selection, IND filing and on to initial proof of concept.
Mozart Therapeutics Inc. CEO Katie Fanning said the firm’s $55 million series A financing will allow the filing of an IND, probably in early 2024, for a prospect in celiac disease. Founded in July 2020, Seattle-based Mozart is based on research into the CD8 T-cell regulatory network, which has been found to play an important role in surveillance, recognition and elimination of inappropriately activated autoreactive and pathogenic immune cells.
When James Peyer, Cambrian Biopharma Inc.’s CEO, watched his grandfather fail every cancer treatment and eventually pass away, he came to a realization that now forms the backbone of his company. “The more I learned about cancer, the more convinced I became that we were approaching cancer as a disease in the wrong way,” Peyer told BioWorld. “We were waiting until people were sick and only then doing something about it.” Cambrian just closed on an oversubscribed series C that brought in $100 million to develop a pipeline of therapies designed to treat and prevent age-related diseases.
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