Favorable conditions in China encouraged biotech veterans Jerry Wang, Bing Yan and Lihua Zheng to co-found Anheart Therapeutics Co. Ltd. in November 2018 to focus on oncology. On Monday, the Chinese startup in-licensed a mIDH-1 inhibitor and an AXL inhibitor from Daiichi Sankyo Co. Ltd. to expand its pipeline, less than two years after it obtained the global rights of its first asset, AB-106 (taletrectinib), from the Japanese firm to establish its footing.
Raising more money in the first three quarters of 2020 than in each of the last three full years, the med-tech industry is mirroring that of the biopharma industry, showing an unprecedented amount of financing during what is arguably the most economically disruptive pandemic in a lifetime.
Portable dialysis machine manufacturer Outset Medical Inc. saw its shares soar after the opening of its Nasdaq IPO. The stock rose as high as $61.60 before closing at $60.68, finishing the day with a market cap of nearly $2.5 billion. Trading under the ticker symbol OM, the company priced 8.95 million of its shares at $27 apiece, upsizing its previously reported plans to offer 7.6 million shares between $22 and $24. The offering is set to close Sept. 17.
LONDON – Neogene Therapeutics BV has raised $110 million in a series A round to advance development of a novel T-cell immunotherapy for treating solid tumors.
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