Hong Kong Exchanges and Clearing Ltd. (HKEX) has taken the first step towards allowing listings on the market via special purpose acquisition companies (SPACs), also known as “blank check” companies. The move has left biotech companies wondering if the change could provide the next big opportunity to join the market after pre-revenue companies were first allowed to list there under a 2018 main board listing rule paved the path for them to do so.
Cell therapy company Zhuhai Grit Biotechnology Inc. completed a series A+ financing of undisclosed value to advance its lead tumor-infiltrating lymphocyte (TIL) program, GT-101 for advanced solid tumors, into the clinic by year end while also developing other TIL candidates in its pipeline.
While the 441 med-tech financings completed so far this year are nearly as much as this point last year (446), the amount of money raised, at $33.43 billion, is 17% below the amount raised through early August of 2020 ($40.14 billion). Just two months ago, the volume of financings was 10% higher than last year, indicating a recent slowdown in activity. Nevertheless, 2021 appears to be on track to beat the $40.7 billion raised in 2019, and it is already ahead of the full year amounts for 2017 and 2018.
PARIS – Biospectal SA has just closed a $4.3 million seed round to scale its Optibp smartphone blood pressure monitoring application and data platform technology worldwide.
Cell therapy company Zhuhai Grit Biotechnology Inc. completed a series A+ financing of undisclosed value to advance its lead tumor-infiltrating lymphocyte (TIL) program, GT-101 for advanced solid tumors, into the clinic by year end while also developing other TIL candidates in its pipeline.
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