While 2022 represents the lowest financing year for med-tech companies over the past four years, amounts raised through IPOs, venture capital rounds and private placements are still topping other years, while stagnant follow-on activity weighs heavily on the overall total.
Immuno-oncology company Imugene Ltd. announced an AU$80 million (US$53.9 million) capital raise that will allow the company to add additional studies within its immuno-oncology pipeline as well as pursue potential licensing opportunities. The funds raised will allow the company to interrogate its pipeline further in other indications or combinations, Imugene CEO Leslie Chong told BioWorld. “There’s a lot we could do with our current pipeline, and now our cashflow is greatly extended.”
MGI Tech Co. Ltd. raised ¥3.602 billion (US$518 million) on the Shanghai STAR Market. Shares (SHA: 688114) debuted at ¥87.18 apiece on the first trading day on Sept. 9. They closed at ¥124 per share on Sept. 14.
Neukio Biotherapeutics Co. Ltd. has raised $50 million to support preclinical validation and clinical development of new cell therapies for cancer. The series A-1 round was led by CD Capital, Beijing Alwin Asset Management Co. Ltd. and Surplus Capital, with contributions from previous investors Lilly Asia Ventures, Sherpa Healthcare Partners Co. Ltd., and IDG Capital.
Ocular gene therapy firm Sparingvision SA raised €75 million (US$75 million) in a series B round to fund its transition to clinical development. The company is about to move its lead program, the mutation-agnostic gene therapy SPVN-06, into a phase I trial in retinitis pigmentosa (RP). “We are in the middle of the regulatory submission process,” CEO Stéphane Boissel told BioWorld.
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