Even though the appetite for biopharma IPOs this year has been voracious with no signs of a slowdown anytime soon, companies also have a potentially faster route to the public market using special purpose acquisition companies (SPAC) that raise money through an IPO in order to take a company public through an acquisition.
Rayzebio Inc. raised $45 million in a series A round to build a platform company focused on developing targeted radiopharmaceuticals for solid tumor indications.
BEIJING – Biologics developer Genor Biopharma Co. Ltd. raised HK$2.69 billion (US$347 million) via a pre-revenue IPO on the Hong Kong Stock Exchange on Oct. 7, with shares (HKEX:6998) trading 16.25% higher to close at HK$27.95.