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When uncertainty strikes, survival instincts flourish. That is exactly how the biopharma industry weathered 2020 and the global spread of the devastating SARS-CoV-2 virus. “The theme for 2020 was, ‘If the capital is there, take it. It’s an uncertain future’,” said Gabriel Cavazos, managing director in investment banking at SVB Leerink.
It might be difficult to view the past year through anything other than a COVID-shaped hole. But 2020 brought some remarkable and impactful news for the biopharma sector that had little to do with the novel coronavirus. In this end-of-year recap, BioWorld takes a look at some of achievements and trends affecting the industry that were completely unrelated to – or, in some cases, in spite of – the COVID-19 pandemic.
Shares in Chinese drug developer Jacobio Pharmaceuticals Group Co. Ltd. (HK:1167) rose 3% on their first day of trading in Hong Kong. The company, which develops small-molecule drug candidates to modulate enzymes by binding to their allosteric sites, raised HK$1.35 billion (US$174.1 million) in its IPO, pricing 96 million shares at HK$14. Shares closed at HK$14.42 on Dec. 21 after rising as high as HK$16.50.
PERTH, Australia – Chimeric Therapeutics Ltd. closed an IPO on the Australian Securities Exchange (ASX:CHM), raising AU$35 million (US$26.5 million) to fund its CAR T trial in glioblastoma.
Clinical-stage biopharma HBM Holdings Ltd. (also known as Harbour Biomed) debuted on the Hong Kong Stock Exchange on Dec. 10, raising HK$1.71 billion (US$220.7 million) to advance its autoimmune candidates to commercial launches in 2023.
Clinical-stage biopharma HBM Holdings Ltd. (also known as Harbour Biomed) debuted on the Hong Kong Stock Exchange on Dec. 10, raising HK$1.71 billion (US$220.7 million) to advance its autoimmune candidates to commercial launches in 2023.
CAR T therapy developer JW Therapeutics Co. Ltd. launched a HK$2.325 billion (US$300 million) IPO in Hong Kong by issuing 97.7 million shares at HK$23.8 apiece on Nov 3. The listing is set to help the company’s march toward the goal of winning the first CAR T product approval in China.
Chinese drugmaker Simcere Pharmaceutical Group Ltd. raised HK$3.57 billion ($460.6 million) in Hong Kong by issuing 261 million shares at HK$13.7 apiece on Oct 27. Its debut hit a setback, with its share price (HKEX:2096) dropping over 20% in mid-morning and extending losses to nearly 24% to close at HK$10.46.
DUBLIN – In what continues to be a year like no other, European biotechnology firms engaged in drug development raised $4.783 billion in equity financing during the third quarter. It is an unprecedented level of funding for the sector.
