Biopharma financings from January through October 2025 totaled $61.45 billion, roughly in line with the $61.04 billion raised during the same period in 2023 but down sharply from last year’s $93.83 billion.
Billiontoone Inc. saw its shares surge well beyond the already upsized $60 IPO price, opening at $100 each, giving the molecular diagnostics company a market value of $4.4 billion based on the outstanding shares listed in its filings.
San Francisco Bay Area researchers from UC Berkeley, UC San Francisco and Stanford University have combined their technologies to create Azalea Therapeutics Inc., a company focused on editing cells in vivo.
With strong phase II data in hand from its trial testing EVO-756 in chronic inducible urticaria (CIndU) – hives triggered by a specific cause – Evommune Inc. priced its IPO of about 9.3 million shares at $16 each, granting underwriters a 30-day option to buy as many as about 1.4 million more. Proceeds are expected to total $150 million, and shares of the firm (NYSE:EVMN) came out of the gate strong, closing Nov. 6 at $20.23, up 26%.
Neok Bio Inc. was formed earlier this year and is already on schedule to file an IND in a few months for its two bispecific antibody-drug conjugates (ADCs) to treat various types of tumors. The biotech got a leg up on development from its principal investor, Korean biotech ABL Bio Inc., where the discovery work was accomplished.
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