Just a month after laying off 147 employees and announcing plans to mull “strategic alternatives,” Vor Biopharma Inc. reported raising $175 million in private placement in public equity financing and inking a new $4.23 billion license deal for Yantai Rongchang Biotechnologies (Remegen) Co. Ltd.’s telitacicept, a dual-target fusion protein drug approved in China for three autoimmune indications. The news was disclosed after U.S. market hours June 25. Vor’s shares (NASDAQ:VOR) gained 34 cents, or 60.5%, to close June 26 at 89 cents. The company’s shares had risen for eight consecutive trading days since June 17.
Ophthalmology company Polyactiva Pty Ltd closed a AU$40 million (US$25 million) series C round to advance late-stage clinical trials in the U.S. of its lead candidate, PA-5108.
Med-tech firms raising money in public or private financings, including: Elfie, Empo Health, Icecure Medical, Lifeward, Nephrolytics, Trisalus Life Sciences.
Keymed Biosciences Co. Ltd. has raised HK$982 million (US$125 million) in a placement on the Hong Kong Stock Exchange (HKEX:2162) to commercialize its IL-4Rα monoclonal antibody CM-310 branded as Stapokibart, and to advance its larger pipeline.
Transthera Sciences Inc. debuted on the Hong Kong stock exchange June 23 with a HK$200.95 million (US$25.6 million) IPO, becoming the latest in a string of mainland Chinese biopharmaceutical firms to turn to the Hong Kong market for capital.
Jyong Biotech Ltd. raised $20 million from its Nasdaq debut June 17 to advance a pipeline of botanical drugs targeting male urinary disorders. The New Taipei City, Taiwan-headquartered company’s shares began trading under the ticker MENS, and closed at $10.11 apiece at the bell, up 34.80% from its listing price of $7.50 per share. Shares had kicked up to $15 at opening, reaching double its offering price.
Taking an unconventional path to market for its targeted therapies for RAS-addicted cancers, Revolution Medicines Inc. secured access to $2 billion in capital to build its own global commercial infrastructure, instead of partnering outside the U.S. as it had originally intended. “We’ve concluded that the best way for us to achieve our goals with our rich pipeline is to direct our own global development and commercial strategies and to operationalize these both inside and outside the U.S. through our own organization,” Mark Goldsmith, president and CEO of Revolution Medicines (Revmed), told investors June 24.
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