As many biopharmas rethink plans to go public on less-than-welcoming U.S. markets, Hillevax Inc. forged ahead, pricing an upsized IPO April 28, offering 11.8 million shares at $17 apiece, the midpoint of its previously proposed range, for gross proceeds of about $200 million. That’s the highest amount raised in a U.S. IPO so far in 2022, which saw only nine companies go public on Nasdaq during the first quarter.
Biopharma financings for the first quarter of 2022 are at a five-year low, with 65.8% less money and 53% fewer transactions than a year ago. The industry raised $13.1 billion through 249 financings, compared with $38.3 billion from 529 transactions in 2021.
Software Machines and Adaptive Implants in Orthopedics (SMAIO) SA raised $10 million on the Paris Euronext Growth market. The offer price was set at $6.66 a share. “Thanks to this IPO, we will now be able to ramp commercial development of our I-Kontrol arthrodesis platform in Europe and secure a foothold in the United States,” Philippe Roussouly, CEO of SMAIO SA, told BioWorld.
Biopharma financings for the first quarter of 2022 are at a five-year low, with 65.8% less money and 53% fewer transactions than a year ago. The industry raised $13.1 billion through 249 financings, compared with $38.3 billion from 529 transactions in 2021.
Less than a year after winning approval in China for the first domestically developed antibody-drug conjugate (ADC), Remegen Co. Ltd. raised ¥2.6 billion (US$410 million) and picked up a listing on the Shanghai STAR market to support further work on its monoclonal antibodies and ADCs.
Jiangsu Recbio Technology Co. Ltd. raised HK$765 million ($97.7 million) in a Hong Kong stock exchange IPO on March 31. Shares of the vaccine maker (HKEX: 2179) opened at HK$25 per share and rose 1.8% to close at HK25.25 apiece. The Jiangsu, China-based company plans to use about half the proceeds, or HK$317.9 million, to support development and commercialization of its HPV vaccines, including its lead asset, a phase III recombinant HPV 9-valent vaccine REC-603, a spokesperson told BioWorld. The company also plans to set up an HPV manufacturing facility in Taizhou, China.
European biotechnology firms engaged in drug discovery and development raised $1.96 billion in equity investment during the first quarter. That tally represents a drop of 67% on the $5.888 billion invested during the same quarter of 2021, when the COVID-19 crisis drove global and European biotechnology investing to unprecedented levels.
Less than a year after winning approval in China for the first domestically developed antibody-drug conjugate (ADC), Remegen Co. Ltd. raised ¥2.6 billion (US$410 million) and picked up a listing on the Shanghai STAR market to support further work on its monoclonal antibodies and ADCs.
Jiangsu Recbio Technology Co. Ltd. raised HK$765 million ($97.7 million) in a Hong Kong stock exchange IPO on March 31. Shares of the vaccine maker (HKEX: 2179) opened at HK$25 per share and rose 1.8% to close at HK25.25 apiece. The Jiangsu, China-based company plans to use about half the proceeds, or HK$317.9 million, to support development and commercialization of its HPV vaccines, including its lead asset, a phase III recombinant HPV 9-valent vaccine REC-603, a spokesperson told BioWorld. The company also plans to set up an HPV manufacturing facility in Taizhou, China.
Shouyao Holdings Co. Ltd. raised ¥1.48 billion ($233 million) in a listing on the Shanghai STAR Market to support the company’s ongoing clinical programs, led by a second-generation anaplastic lymphoma kinase inhibitor. Company shares (SHA:688197) debuted at ¥39.90, then fell 19.5% to close at ¥32.11 on March 23.
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