The memory of Merck & Co. Inc.’s $10 billion takeover last year of inhaled respiratory drug specialist Verona Pharma plc may not have been far from the minds of Wall Street speculators as Avalyn Pharma Inc. priced its IPO, selling about 16.6 million shares at the high end of the targeted range, or $18 each, to reap about $300 million. The stock (NASDAQ:AVLN) came out of the gate strong on the first day of trading and closed April 30 at $29.49, up $11.49, or 64%.
Tacalyx GmbH has selected its first clinical candidate, TCX-201, and secured €11 million (US$12.8 million) in a first closing of its seed extension round to support the program’s progression through preclinical development. TCX-201 is an antibody-drug conjugate (ADC) against an undisclosed tumor-associated carbohydrate antigen (TACA).
Microbiome specialist Enterobiotix Ltd. has raised £19 million (US$25.7 million) to fund phase IIb development of its lead program EBX-102-02 in the treatment of irritable bowel syndrome with constipation (IBS-C).
Acurastem Inc. has been awarded $7.5 million in grant funding by the California Institute for Regenerative Medicine (CIRM) to support the advancement of lead clinical candidate AS-241 toward first-in-human testing.
Aventera Antibodies AB has successfully raised SEK14.5 million (US$15.6 million) in a funding round to support the preclinical development of the company’s lead drug candidate for life-threatening streptococcal infections.
Ribo Life Science Co. Ltd.’s HK$1.8 billion (US$230 million) raise on Jan. 9 was the sole Chinese biotech IPO on the Hong Kong Stock Exchange in the first quarter (Q1) of 2026, despite a growing backlog of more than 70 filings from China life science firms in 2025. Among med-tech companies, Hangzhou Diagens Biotechnology Co. Ltd. debuted with a $101 million Hong Kong IPO March 30, 2026.
Biopharma and med-tech companies raising money in public or private financings, including: Citius, Fathom, Lucid, Plaquetec, Sagimet, Sanofi, Sonoma, Squaremind.
Nervonik Inc. raised $52.5 million in a series B financing round for its peripheral nerve stimulation (PNS) system designed to treat patients with chronic pain and other neurological conditions. The funds will be used to support the continued development Nervonik's PNS system, including enhancements to the system’s sensing capabilities, as well as preparations for commercialization.
CARB-X (Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator) is awarding US$2.6 million to Adjane Holding BV to advance the development of a vaccine candidate to prevent infections caused by Neisseria gonorrhoeae.
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