Paradigm Biopharmaceuticals Ltd. raised AU$16 million (US$10.31 million) in a placement that will allow the company to start a global phase III trial with its lead product, Zilosul (injectable pentosan polysulfate/iPPS), to treat osteoarthritis.
Following its $60 million investment in Axiom Space Inc. last year, Boryung Co. Ltd. made a $10 million private placement in Intuitive Machines Inc. to grow its pharmaceutical R&D reach in outer space.
Biopharma companies have raised $97.42 billion through November 2024, up 46% from $66.79 billion during the same period in 2023 and also more than $56.56 billion in 2022.
Hangzhou Jiuyuan Gene Engineering Co. Ltd. raised HKD$485.4 million (US$62.38 million) in a November 28 IPO on the main board of the Hong Kong Stock Exchange (HKEX:2566).
Radiopharmaceutical biotech and contract development and organization firm Duchembio Co. Ltd. filed a securities report to South Korea’s Financial Services Commission Nov. 11, kickstarting the IPO process to list on the Korea Exchange.
Biopharma financing continued to excel through the first 10 months of 2024, reaching $93.64 billion, a 53% increase from $61.04 billion during the same period in 2023.
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