Normunity Inc. has closed a $75 million series B financing to support its pipeline of novel anticancer therapies targeting untapped drug mechanisms. Proceeds from the financing will be used to advance Normunity’s lead program, NRM-823, a first-in-class T-cell engager.
Windward Bio AG was established with plans to both license a drug and establish wet labs to create an internal pipeline of drug candidates. SR One, Omega Funds, RTW Investments, Qiming Venture Partners, Quan Capital and Pivotal Bioventure Partners funded the Basel, Switzerland-based company’s $200 million series A financing round.
Brainaurora Medical Technology Ltd. debuted on the Hong Kong stock exchange Jan. 8 with a HK$583.18 million (US$74.93 million) IPO, offering about 181.11 million shares at HK$3.22 per share.
Modest signs of recovery were seen in the biopharma IPO market in 2024, though activity remains significantly below the levels seen during the 2018-2021 boom. In 2024, 32 biopharma companies went public, a slight increase from 27 in 2023 but a decline from 35 in 2022. These figures pale in comparison to the peak years, with 134 IPOs in 2021, 106 in 2020 and even 65 in 2019. Both the total value and volume of IPOs continue to lag far behind those earlier highs.
Coave Therapeutics SA has completed the transition to becoming a genetic medicines specialist, after divesting its single ophthalmology program and raising $33 million in a series A round.
New Anglo/U.S. obesity and cardiometabolic specialist Verdiva Bio Ltd. has launched with a massive $411 million series A and a portfolio of GLP-1 and amylin agonists in-licensed from China.
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