Biopharmas raising money in public or private financings, including: Argenx, Artelo, Decibel, Equillium, Gemini, Neximmune, Ocugen, Pan Cancer, Tonix, Xortx.
The week finished with flurry of biotech IPOs, seven of them, a record number in a single day, according to BioWorld stats. Last year was a record year for IPOs as 106 new offerings were completed and raised $22.5 billion, more than double the previous record of $10.7 billion set in 2018. The seven companies that priced Feb. 5 are anticipating total gross proceeds of about $1.06 billion.
Biopharma financings have done it again. Breaking all kinds of records in January, the year appears to be off to an extraordinary start. The industry raised $10.15 billion during the month through a total of 158 financings. This represents a significant climb above the previous records, according to BioWorld data going back to the year 2000.
Of the three companies launching IPOs Feb. 4, one struggled mightily, another posted double-digit gains while the third ended the day flat. Shares of Landos Biopharma Inc. (NASDAQ:LABP) dropped 25%, to $12 each, on their first day of trading. Sana Biotechnology Inc. (NASDAQ:SANA) had the strongest first day of trading as shares closed 40.4% higher at the close at $35.10. Sensei Biotherapeutics Inc. (NASDAQ:SNSE) saw its IPO launch roughly break even on its first day of trading, closing with only a half-point gain at $18.90.
LONDON – Abingworth has cast off Brexit and pandemic woes to close its latest fund, Bioventures 8 at $465 million, exceeding the target of $375 million by a significant margin, and closing its hard cap.
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