Finance Watch: Lexeo Launches 20th US Biopharma IPO In 2023
Blue Owl Buys $1bn In Assets Managed By Cowen
Public Company Edition: Lexeo raised $100m to advance its genetic medicines. Also, Blue Owl Capital acquired funds managed by Cowen Healthcare Investments, gaining about $1bn in life science assets, BMS priced $4.5bn in notes to fund its Mirati purchase and Viridian raised $185m in a private placement.
You may also be interested in...
Public Company Edition: CARGO Therapeutics grossed $281.3m, giving it the fifth-largest biopharma IPO this year. Also, Alkermes completed its cancer business spinout as Mural Oncology, which launched with $275m, and Xencor sold Ultomiris and Monjuvi royalties for $215m.
Brian Scanlan, operating partner (life sciences), Edgewater Capital Partners, in an interview with Scrip, outlines where things may be headed in the CRO/CDMO segment amid big pharma streamlining efforts, “belt tightening” by emerging biopharma, down rounds and heightened geopolitical tension.
Bristol Myers Squibb will add Krazati to its oncology portfolio by buying Mirati Therapeutics in a deal worth up to $5.8bn, but needs to smooth out the so-far bumpy progress of the KRAS-targeting agent and achieve success in immunotherapy combinations.