Advanced Oxygen Therapy Inc. raised £35.1 million (US$44.5 million) in its initial public offering on London’s AIM market. The move by the U.S.-based company is a bid to broaden adoption of its chronic wound care technologies.
A week after generating buzz with its proposed Nasdaq listing and plans to raise about $200 million, Telix Pharmaceuticals Ltd. withdrew its U.S. IPO filing, citing market conditions. The Australian radiopharma firm’s shares continue trading on the Australian Securities Exchange (TLX), where they closed June 14 at AU$16.61 (US$10.98), up AU15 cents.
Chinese artificial intelligence (AI)-driven drug discovery firm Quantumpharm Inc., also known as Xtalpi, began trading on the Hong Kong stock exchange June 13, listing under a new special technology listing track that lured it away from an IPO in the U.S.
Australian radiopharmaceutical company Telix Pharmaceuticals Ltd. announced its IPO on the Nasdaq to raise $200 million to advance its late-stage radiopharma candidates. Headquartered in Melbourne, Telix has operations in the U.S., Europe (Belgium and Switzerland) and Japan with an extensive pipeline of theranostic radiopharmaceutical candidates.
South Korean digital health care firm Seers Technology Co. Ltd. is targeting a ₩22.1 billion (US$16.2 million) IPO on the Korea Exchange, after upping the offering price of its 1.3 million shares to ₩17,000 per share on June 4.
The med-tech industry has maintained its financing momentum into May, with the first five months of 2024 raising $12.7 billion, marking a 42% increase from $8.95 billion during the same period in 2023. Notably, May alone saw $5.05 billion in total med-tech financings, a 307% rise from $1.24 billion in April, and the highest monthly total reported by BioWorld MedTech since November 2022.
Phase II-stage Rapport Therapeutics Inc. began trading on Nasdaq June 7 under the ticker RAPP after pricing its IPO of 8 million shares at $17 each to raise $136 million, gaining $3.80, or 22.4%, to close its first day at $20.80. With offices in Boston and San Diego, Rapport is developing drugs for central nervous system (CNS) disorders. The IPO is expected to close June 10.
Biopharma financings rebounded in May, reaching $9.15 billion and marking a 48% increase from $6.18 billion in April. However, value is down from the $13.84 billion in financings seen in March and $22.3 billion in February. This year’s monthly average of $12.52 billion reflects an 112% increase from the average of $5.91 billion per month in 2023.
Australian radiopharmaceutical company Telix Pharmaceuticals Ltd. announced its IPO on the Nasdaq to raise $200 million to advance its late-stage radiopharma candidates. Headquartered in Melbourne, Telix has operations in the U.S., Europe (Belgium and Switzerland) and Japan with an extensive pipeline of theranostic radiopharmaceutical candidates.
South Korean digital health care firm Seers Technology Co. Ltd. is targeting a ₩22.1 billion (US$16.2 million) IPO on the Korea Exchange, after upping the offering price of its 1.3 million shares to ₩17,000 per share on June 4.
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