Finance Watch: CureVac’s IPO Is Ready For Launch
Public Company Edition: The German mRNA-focused company could raise up to $245m based on its proposed price range, but investor interest could drive the offering’s total higher. Also, Perceptive launches another SPAC, Regeneron sells $2bn in debt and Biohaven secures up to $950m.
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ElevateBio closed a series D venture capital round and revealed a potentially multibillion-dollar deal between its Life Edit subsidiary and Novo Nordisk as demand for its cell and gene therapy capabilities grow.
Public Company Edition: The last biopharma IPO in the US was on 17 February and none have been scheduled, so far, for March. Also, another SPAC merger is called off, Travere sells $275m worth of notes and Xeris secures $150m in new debt, while Ovid, Passage Bio and others are cutting jobs.
With $845m raised to date, ElevateBio will keep building its cell and gene therapy manufacturing capabilities and continue creating new companies and partnerships, but with a global focus.