Top Financings: 2018 Was A Remarkable Year For Biopharma Fundraising
Highlights from the past year's financings include BeiGene's $800m follow-on offering in the US and $903m Hong Kong IPO, Moderna's $560m Series G round and $604m IPO, and Allogene's $300m Series A and $373m IPO.
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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.
The mRNA specialist outlined ambitious plans to bring a vaccine for cytomegalovirus to market during an R&D day after releasing positive Phase I data.
Private Company Edition: ARM's Q2 report shows a 38% decline in financings, but venture capital and upfront fees from deals were robust. Also, Servier raises $405m in the US, Frequency closes a $62m series C and VenatoRx accesses US government cash.