Startup Curimeta Inc. emerged from stealth with $6 million in seed financing led by Washington University School of Medicine in St. Louis and BJC Healthcare, a St. Louis-based nonprofit health care system. Cultivation Capital Healthcare Innovation Fund also participated in the round.

While biopharma financings are down in value by 55.8% in comparison with last year, and even more in comparison with 2020, amounts raised are very much in line with the pre-pandemic year of 2019. So far this year biopharma companies have raised $38.56 billion through 674 transactions, not too far off from the $37.9 billion raised three years ago through 706 deals completed by the end of August.

Investments in early stage biotech companies were in focus at the Hong Kong Stock Exchange’s (HKEX) Biotech Summit 2022. The virtual event on Sept. 1 saw discussions centered on this investment trend for younger biotech firms, which looks to be where capital is headed in the sector after a cooldown for listings in Chinese stock markets in the first half of 2022.

Shanghai Microport Ep Medtech Co. Ltd. went public on the Shanghai Stock Exchange STAR Market and raised ¥1.17 billion (US$169.5 million) with its initial public offering. The company’s issue price was ¥16.51 per share. After opening at ¥15.50 per share, the share price dived to ¥13.15 at the closing of its first trading day. Microport Ep is an associated company of the Hong Kong-listed Microport Scientific Corp.

Biocytogen Pharmaceuticals Co. Ltd. has raised HK$471.1 million (US$60 million) in net proceeds through an initial public offering on the Hong Kong Stock Exchange Sept. 1. It plans to use about three-quarters of the proceeds to advance clinical trials of two of its core anticancer candidates, YH-003 and YH-001. Company shares (HKEX:2315), initially offered at HK$25.22 each, closed at HK$26 on their first trading day.