Akeso Pharmaceuticals Inc. raised $250 million via a public offering that will allow the company to accelerate clinical development of its internally developed drugs in both China and international markets. The offering consists of 31.7 million shares priced at HKD$61.28 (US$7.88) per share and marks the second successful placement in 2024 for Guangdong, China-based Akeso. Following the offering, the company's cash on hand is expected to be $1.064 billion.
Inventiva SA is back on course to complete phase III development of its metabolic dysfunction-associated steatohepatitis (MASH) drug, lanifibranor, after putting in place new financing of up to €348 million (US$379.4 million), including an immediate cash injection of €94.1 million.
Akeso Pharmaceuticals Inc. raised $250 million via a public offering that will allow the company to accelerate clinical development of its internally developed drugs in both China and international markets. The offering consists of 31.7 million shares priced at HKD$61.28 (US$7.88) per share and marks the second successful placement in 2024 for Guangdong, China-based Akeso. Following the offering, the company's cash on hand is expected to be $1.064 billion.
The $15.3 million Mindpeak GmbH recently raised in its series A funding round will allow the company to be able to accelerate the development and deployment of its AI-based solutions, Felix Faber, CEO of Mindpeak, told BioWorld.
The founding CEO of Alnylam Pharmaceuticals Inc. is now leading the charge with newly launched City Therapeutics Inc., which just completed a $135 million series A financing. City’s executive chair, John Maraganore, will be in familiar territory as the new company plans to develop RNAi-based medicines using next-generation siRNA engineering. He expects dozens of these therapies to reach the market in a relatively short period of time, not just from City Therapeutics but from other companies. It’s a period in the development timeline that he finds reminiscent of the rise and development of monoclonal antibodies.
Coming off September, which saw five biopharma IPOs raise more than $1 billion, two firms priced upsized offerings that could total more than $330 million.
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