Jiangsu Gdk Biotechnology Co. Ltd. will further develop its vaccine pipeline after it started trading on the Shanghai Stock Exchange Star Market on Aug. 2, where it raised ¥1.21 billion ($187 million) through an initial public offering of 22 million shares. The company plans to use the proceeds from the listing to establish a manufacturing plant to produce its quadrivalent influenza vaccine and invest in R&D for other vaccine candidates, as well as replenish working capital and repay bank loans.
PERTH, Australia – After raising A$10 million (US$7.36 million) in its initial public offering on the Australian Securities Exchange, BCAL Diagnostics Ltd. is racing to commercialize its noninvasive, blood-based in vitro diagnostic to detect breast cancer. The Breast Cancer Associated Lipids (BCAL) test is taken via a blood sample and analyzed for lipid biomarkers.
Financing is the fuel that drives growth in the biopharma sector, and participants at the BIO Asia-Taiwan Conference 2021 this week discussed different financing strategies for companies in the currently booming market.
Financing is the fuel that drives growth in the biopharma sector, and participants at the BIO Asia-Taiwan Conference 2021 this week discussed different financing strategies for companies in the currently booming market.
SD Biosensor Inc. made a splash in its KOSPI board debut on July 16, raising a total ₩776.4 billion (US$679.26 million). The company will now use the funds to mass-produce and promote the company’s diagnostic machines for various indications, including COVID-19.
Three companies that began trading on Nasdaq on July 16 are contributing to this year’s record-setting pace of biotech IPOs. Erasca Inc., which is looking to raise $300 million, led the pack with shares (NASDAQ:ERAS) ending the day at $17.43, an 8.94% rise from the opening asking price of $16.
Heartflow Holding Inc. is aiming to bring its noninvasive, artificial intelligence (AI)-based test for coronary heart disease to more doctors and patients via a merger with Longview Acquisition Corp. II. The deal, valued at an enterprise value of about $2.4 billion, is the latest in a steady stream of med techs queueing up to go public via a “blank check” special purpose acquisition company (SPAC) this year.
DUBLIN – Poolbeg Pharma plc raised £25 million (US$35 million) in an IPO on London’s Alternative Investment Market (AIM) to pursue development of antiviral drugs. The company priced the offering at 10 pence per share, which implies a valuation of £50 million. Shares are due to commence trading on Monday, July 19.
Keymed Biosciences Inc. debuted on the Hong Kong Stock Exchange (HKSE) on July 8, raising HK$2.94 billion (US$378.48 million) in the process. The company will use the funds raised for the R&D and commercialization of key pipeline candidates.
Brii Biosciences Ltd. raised HK$2.482 billion (US$319 million) in its IPO in Hong Kong and will use the proceeds to support the development of its key assets, which includes programs for hepatitis B virus (HBV), HIV and drug-resistant infections.
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