While second quarter financings pale in comparison to the same timeframe last year, a stellar first quarter more than makes up for the gap, and 2021 has officially raised nearly 10% more than the first half of biopharma’s – and perhaps the world’s – most unforgettable year.
PERTH, Australia – Amaroq Therapeutics Ltd., a spinout out of the University of Otago in Dunedin, New Zealand, has launched after securing NZ$14 million (US$9.7 million) in seed funding to develop long non-coding RNAs as therapeutic targets and diagnostic markers to treat breast, colorectal and liver cancer.
Healthcare Capital Corp. (HCC), a special purpose acquisition company, will combine with Alpha Tau Medical Ltd. to create a Nasdaq-listed company with an implied pro forma equity value of approximately $1 billion. Gross proceeds from the transaction, expected to close by year end 2021, are projected to total $367 million.
Hyerfine Inc. and Liminal Sciences Inc. have joined a growing field of med-tech startups that are combining with blank check companies as an alternative path for venture-backed companies to an initial public offering (IPO). On Thursday, the companies announced a three-way combination with Healthcor Catalio Acquisition Corp., a special purpose acquisition company (SPAC), in a deal valued at approximately $580 million.
Neuro- and peripheral-vascular interventional med-tech developer Zylox-Tonbridge Medical Technology Co. Ltd. raised HK$2.56 billion (US$329 million) in Hong Kong on July 5 via an IPO that will support the development and commercialization of its core products.
Keymed Biosciences Inc. debuted on the Hong Kong Stock Exchange (HKSE) on July 8, raising HK$2.94 billion (US$378.48 million) in the process. The company will use the funds raised for the R&D and commercialization of key pipeline candidates.
Tioga Medical Inc. closed a $30 million series B financing led by The Capital Partnership (TCP), with participation from Cormorant Asset Management, Amed Ventures and Shifamed angel investors. The financing will be used to advance product development, support preclinical testing, and initiate clinical experience for the company's transcatheter mitral valve replacement technology.
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