The public markets have hammered biopharma companies conducting IPOs in the past four years, with the number of debuts dwindling and the amounts raised falling dramatically as well. But one of the more telling measures is price performance, which is significantly down for all IPOs completed since 2020. The stock prices of 13 firms that entered the U.S. markets in 2023 are currently at a decline of 26.8% on average, with only two companies trading above their offering price.

Sofinnova Partners hauled in $200 million in investment for its digital health fund as investors’ appetite for companies developing solutions for health care using digital technology continues to grow.

Triveni Bio Inc. has announced a $92 million series A financing that will support the advancement of its lead antibody program, TRIV-509, from preclinical development to a phase IIa clinical trial in atopic dermatitis and fuel a pipeline of novel antibodies with two additional development candidate nominations expected in 2024.

Emerging from stealth mode, Rampart Bioscience Inc. pulled down $85 million in series A money for work on DNA-based drugs – a round that was led by Forbion with participation from seed investor Orbimed and new backers RA Capital Management and Healthcap.