TCR2 Raises $125m To Make T-Cell Therapies Available To More Cancer Patients
TCR2 Therapeutics raised a $125m Series B round to take two T-cell receptor (TCR)-based therapies into the clinic for solid tumors. The company's technology platform overcomes HLA-matching issues to make TCR-based treatments available to more patients.
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Public Company Edition: Grossing $276m, Gossamer would have been the third-largest biopharma IPO in the US if it had launched last year. Also, recent public company financings include debt and follow-on offerings; and two more firms cut jobs – Capricor and Seres.
Nearly two-thirds of the 67 drug developers that launched an IPO in 2018 were trading below their offering price at the end of the year, bringing the average return to -7.5%. Even so, biopharma companies continue to line up for a US stock market debut.
Biopharma start-ups finally had an increase in financing activity, following three sequential quarters with a decrease. A review of biopharma start-up dealmaking and financing activity from January through March 2018, based on data from Strategic Transactions.