Finance Watch: 2021 Is Now Two Away From 100 Biopharma IPOs
Three Health Care-Focused SPACs Also Went Public
Public Company Edition: Entrada’s initial public offering grossed $181.5m while Aura raised $75.6m and Biofrontera brought in $18m. Also, AnaptysBio received $250m in Jemperli royalty deal and 4D Molecular Therapeutics grossed $118.8m in a follow-on offering.
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Entrada gets $250m cash and equity up front under four-year deal, which extends its runway and will enable it to focus on Duchenne muscular dystrophy. Vertex further diversifies its pipeline with a novel drug class.
Public Company Edition: NewAmsterdam grossed $328m in its SPAC merger, while Liminatus may raise up to $316m in a new SPAC deal. Also, Intellia and Iveric grossed $300m each in follow-on offerings, bluebird sold a PRV for $102m and MEI ends zandelisib development resulting in layoffs.
Roche is paying $125m upfront to in-license potential blockbuster lead candidate camonsertib from Repare, which calls it a best-in-class ATR inhibitor and has the chance to opt back in on US commercialization.