HONG KONG - U.S. and China-based Terns Pharmaceuticals Inc. closed an $87 million series C financing round that will pave the way for the company’s pipeline of candidates to treat nonalcoholic steatohepatitis (NASH).
A decade from now, 2020 likely will be considered a year like no other in terms of the massive amounts of capital raised amid a raging pandemic. Financing transactions of all types smashed records and in terms of volume hit 1,580, a total that was 42% higher than last year.
Biopharmas in Asia-Pacific raising money in public or private financings, including: Ascendis, Gracell, Ligature, Paratek, Revelation Biosciences, Visen, Zai Lab.
Following a record-shattering year, terms were set for the first two biotech IPOs of 2021 in deals that could generate up to $300 million. Cullinan Oncology LLC, of Cambridge, Mass., set terms Jan. 4 for raising about $150 million by pricing 8.3 million shares in the $17 to $19 range.
Biopharmas in Asia-Pacific raising money in public or private financings, including: Arch Biopartners, Epsilon Molecular Engineering, Foresee, Gracell, Transcenta.
Biopharmas in Asia-Pacific raising money in public or private financings, including: Clarity, HBM, Junshi, Phathom, Revitope Oncology, Sellas Life Sciences, Takeda.
Shares in Chinese drug developer Jacobio Pharmaceuticals Group Co. Ltd. (HK:1167) rose 3% on their first day of trading in Hong Kong. The company, which develops small-molecule drug candidates to modulate enzymes by binding to their allosteric sites, raised HK$1.35 billion (US$174.1 million) in its IPO, pricing 96 million shares at HK$14. Shares closed at HK$14.42 on Dec. 21 after rising as high as HK$16.50.
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