Asia Deal Watch: Innovent Picks Up Asian Rights To Three Clinical Cancer Candidates From Incyte
Incyte gets $40m up front and can earn up to $351.5m in milestones pegged to a Phase III JAK1 inhibitor and a pair of Phase II candidates. Shionogi obtains Asian rights to an allosteric inhibitor for cognitive disorders from Tetra.
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Relay raises $400m to kick off July’s second big week of US initial public offerings. Also, Ocumension and Immunotech launch Hong Kong IPOs, Amgen invests $421m in BeiGene’s $2.08bn offering, Cytokinetics gets up to $400m in deal and investment funding, and Imvax closes $111m series C round.
BioNTech's $150m offering, after a prior large venture capital financing, gives it the third-largest market cap for a newly public drug developer in the US. Also, Innovent raises $300m in Hong Kong offering, Heron leads US follow-ons and Five Prime restructures to save $20m annually.