Three biopharma IPOs rounded out the first week of the new year, with Amylyx Pharmaceuticals Inc., Cincor Pharma Inc. and Vigil Neuroscience Inc. all pricing new Nasdaq issues Dec. 7. Taken together, the offerings raised about $482 million, though all received cool receptions, with only the most mature among them, Amylyx, (NASDAQ:AMLX) holding its ground at midday.
While the $118.3 billion raised by biopharma companies in 2021 through public and private transactions is 12% lower than the amount raised the prior year, it still represents an impressive financings record, led primarily by IPOs and venture capital rounds.
DUBLIN – A strong performance in the final quarter of 2021 pushed equity investment in European biotech firms engaged in discovering and developing therapeutics to a new record of $15.193 billion, a 19.8% increase on last year’s total of $12.682 billion. European biotech firms have now set a new investment benchmark for each of the past five years.
Sirnaomics Ltd. became the first RNA therapeutics company to list on the Hong Kong Stock Exchange (HKEX) with a $64 million initial public offering. Its shares (HKEX:2277) have since surged, rising to HK$93.90 ($12.04) on Jan. 4 following their debut at HK$65.90 per share.
Beigene Ltd.’s listing on the Shanghai STAR Market netted ¥22 million ($3.4 billion) as the company became making it the first biotech firm to be listed on Nasdaq, the Hong Kong Stock Exchange, and the Shanghai STAR Market. But Shanghai shares, initially priced at ¥192.6 each, fizzled quickly, plunging over 16.4% by market close to ¥160.98 on Dec. 15.
Beigene Ltd.’s listing on the Shanghai STAR Market netted ¥22 million ($3.4 billion) as the company became making it the first biotech firm to be listed on Nasdaq, the Hong Kong Stock Exchange, and the Shanghai STAR Market. But Shanghai shares, initially priced at ¥192.6 each, fizzled quickly, plunging over 16.4% by market close to ¥160.98.
With the U.S. Securities and Exchange Commission (SEC) and Cyberspace Administration of China (CAC) imposing stricter regulatory requirements on listing companies, more Chinese companies are likely to decide to list on stock exchanges closer to home.
Canbridge Pharmaceuticals Inc. has raised HK$604 million ($77.4 million) with a listing on the Hong Kong stock exchange, selling about 56.3 million shares (1228.HK) at HK$12.18 per share. The shares fell to HK$8.90 at the close of trading Dec. 10. Almost half the funds will support advancement of Canbridge’s lead candidate, CAN-008, a glycosylated CD95-Fc fusion protein in phase II testing for glioblastoma, while another quarter will support other major pipeline programs.
Canbridge Pharmaceuticals Inc. has raised HK$604 million ($77.4 million) with a listing on the Hong Kong stock exchange, selling about 56.3 million shares (1228.HK) at HK$12.18 per share. The shares fell to HK$8.90 at the close of trading Dec. 10. Almost half the funds will support advancement of Canbridge’s lead candidate, CAN-008, a glycosylated CD95-Fc fusion protein in phase II testing for glioblastoma, while another quarter will support other major pipeline programs.
PERTH, Australia – Medtech newcomer Artrya Ltd. listed on the Australian Securities Exchange (ASX) in an AU$40 million (US$28.6 million) initial public offering to commercialize its software that analyzes heart computed tomography (CT) scans via artificial intelligence (AI) to better diagnose coronary artery disease.
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