Senior leaders and investors in the health care sector expect mergers and acquisitions (M&A) activity to continue to pick up next year but this will be corporate led rather than private equity, according to a report by global investment bank Jefferies.
A year after Alkermes plc announced it would divide its oncology and neuroscience efforts into two separate businesses, the Dublin-based company spun out Mural Oncology plc with $275 million in funding and the lead solid tumor candidate nemvaleukin alfa. Shares of Mural (NASDAQ:MURA) will begin trading Nov. 16. “We’re very excited,” Mural’s CEO Caroline Loew told BioWorld. “We’ve got two major clinical datapoints in the next 18 months.”
Eyebiotech Ltd. doubled the size of its series A round, raising $130 million to advance a pair of assets, with a phase Ib/IIa trial dubbed Amarone underway testing the drug called Restoret in patients with diabetic macular edema and neovascular, or wet, age-related macular degeneration.
In one of the larger biopharma IPOs in 2023, Cargo Therapeutics Inc. pulled in $281.3 million on Nov. 10, selling 18.75 million shares at $15 each, the low end of its price range. The market debut comes just eight months after the San Mateo, Calif.-based company raised $200 million in an oversubscribed series A round.
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