Finance Watch: Lexeo Launches 20th US Biopharma IPO In 2023
Blue Owl Buys $1bn In Assets Managed By Cowen
Executive Summary
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.
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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.
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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.
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