Bao Pharmaceuticals Co. Ltd., a developer of subcutaneous biologic drugs, priced its IPO at HK$26.38 on Dec. 2, aiming to raise about HK$1 billion (US$128 million). Bao expects net proceeds of HK$921.5 million after expenses, which will fund its “two-anti” strategy – developing both antibody and antibiotic drugs worldwide, mainly in China, the U.S. and Europe.
Protego Biopharma Inc. closed an oversubscribed $130 million series B financing that will be used to advance PROT-001, the company’s treatment for amyloid light (AL) chain amyloidosis. a plasma cell disorder where the cells produce abnormal, misfolded immunoglobulin light chain proteins.
The European Investment Bank and Angelini Ventures have partnered to invest €150 million (US$174 million) in health care companies across Europe. The funding will target seven to 10 companies in biotech, med-tech and digital health in an effort to boost financing in the European health care ecosystem and support the development of innovative solutions across the continent.
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