BEIJING – Androgen receptor (AR)-related disease specialist Kintor Pharmaceutical Ltd., of Suzhou, China, raised $240 million on the Hong Kong Stock Exchange (HKEX) on May 22 by issuing 92.3 million shares at HK$20.15 apiece. The IPO was oversubscribed by 551 times, showing the city’s biotech fever.
The $65 million that Hotspot Therapeutics Inc., of Boston, raised will help advance its lead programs to the clinic, including protein kinase C antagonists for Th2 and T-reg-driven autoimmune disease and S6 kinase antagonists for rare metabolic disease.
TORONTO – How confident is Canada’s government that Abcellera Biologics Inc. can identify viral antibodies to help stop COVID-19 in its tracks and build the manufacturing infrastructure for antibody therapies against future pandemic threats? Enough to award the Vancouver, British Columbia-based biotech CA$175.6 million (US$124.7 million) for the application of its antibody discovery platform to the analysis of patients who have recovered from COVID-19.
Rapid Micro Biosystems Inc. scooped up $120 million in a series C financing led by Ally Bridge Group, with participation by Endeavor Vision and existing investors Bain Capital Life Sciences, Longitude Capital, Xeraya Capital and Asahi Kasei. The Lowell, Mass.-based company has earmarked the funds to expand the global footprint of its contaminant testing platform for biopharmaceutical and vaccine manufacturing and for new product development.
Vancouver-based Artms Inc. has raised a $19 million series A round to develop its approach to the production of many of the most commonly used diagnostic imaging isotopes. Its Quantm Irradiation System enables the inexpensive production of medical isotopes using hospital-based cyclotrons.