Three companies set terms for their IPOs that, if launched, will go far in maintaining the year’s already powerful momentum. Largest of the three comes from Design Therapeutics Inc., which looks to raise net proceeds of $209.1 million to fund its Friedreich’s ataxia program through IND studies and a phase I trial.
Aura Biosciences Inc., a company developing a virus-like drug conjugate (VDC) for the potential treatment of a type of rare ocular cancer, has closed an oversubscribed $80 million financing.
While historical data suggest venture capital rounds will eventually dip below the peak years, biopharma financings completed in recent months indicate the dollars are continuing to climb in 2021.
Via Surgical Ltd. has secured an investment from Taiwanese manufacturer Catcher Technology Co. Ltd. to bring its Fastouch deployable suture fixation system that assists hernia repair to Asia.
The COVID-19 pandemic has imposed a lot of drag on clinical trials for life science companies, but those companies have also broadened their horizons when it comes to financing their R&D efforts. Jeffrey Ellis and Dennis Howell, of Deloitte, told BioWorld that while these alternative sources of funding are attractive to drug and device makers with a lot of ongoing R&D projects, federal regulators are keeping a close eye on the associated financial reporting, creating a novel regulatory risk for the unwary drug or device maker.
Aktis Oncology Inc. raised $72 million in a series A round and set out its stall as another contender with big ambitions in the rapidly developing field of targeted radiopharmaceuticals for solid tumor indications.
HONG KONG – SK Bioscience Ltd.’s shares soared as much as 30% in their KOSPI board debut on Thursday. The 22.95 million shares on offer opened at ₩130,000 (US$115.08) and were trading at ₩169,000 by the close of the trading day, raising ₩1.5 trillion, or $1.33 billion. SK Bioscience had priced the shares at the top of the ₩49,000 to ₩65,000 range.
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