Suzhou Basecare Medical Corp. Ltd., a genetic test developer for assisted reproduction, raised HK$1.82 billion (US$235 million) in an initial public offering on the Hong Kong Stock Exchange on Feb. 8, with shares opening nearly 10% higher. The IPO will support the company to continue to develop pre-implantation genetic (PGT) testing products for assisted reproduction.
Chinese cancer and autoimmune specialist Innocare Pharma Ltd. raised HK$3.04 billion (US$392 million) in private placements with two Hillhouse Capital subsidiaries and Vivo Opportunity Fund to advance its pipeline, especially its core asset, the BTK inhibitor orelabrutinib.
Biopharmas raising money in public or private financings, including: Argenx, Artelo, Decibel, Equillium, Gemini, Neximmune, Ocugen, Pan Cancer, Tonix, Xortx.
Following a $59.7 billion record-breaking year, med-tech financings in 2021 have already raised 56% more than the amount recorded during the pre-pandemic early weeks of 2020.
PARIS – Four years after being set up in Marseilles, France, Volta Medical SAS reported raising $28 million in a series A round for the VX1 software mapping system, an artificial intelligence (AI) algorithm that is compatible with most readily available multipolar catheters and technology used in operating rooms and cath labs to treat cardiac arrhythmia.
Infectious diseases diagnostics company Lucira Health Inc. launched an IPO of 9 million shares of common stock at $17 per share, for expected gross proceeds of $153 million. Friday’s Wall Street debut was a show of confidence, upsized from an original plan to offer 7.8 million shares at $15 to $17. The Emeryville, Calif.-based company has granted the underwriters a 30-day option to acquire up to an additional 1,350,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.
The week finished with flurry of biotech IPOs, seven of them, a record number in a single day, according to BioWorld stats. Last year was a record year for IPOs as 106 new offerings were completed and raised $22.5 billion, more than double the previous record of $10.7 billion set in 2018. The seven companies that priced Feb. 5 are anticipating total gross proceeds of about $1.06 billion.
Biopharma financings have done it again. Breaking all kinds of records in January, the year appears to be off to an extraordinary start. The industry raised $10.15 billion during the month through a total of 158 financings. This represents a significant climb above the previous records, according to BioWorld data going back to the year 2000.
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