Bavarian Nordic files for $86M IPO; Acacia aces PhIII after nixing IPO; Basilea seeks ally for PhIII

Welcome to the latest edition of our weekly EuroBiotech Report. Our first EuroBiotech Report of 2016 is dominated by companies that can be split into two groups: Biotechs that tried and failed to IPO last year, and those that are planning to go public despite these recent cautionary tales. Bavarian Nordic (CPH:BAVA) and TiGenix (EBR:TIG) make up the latter of these groups. Cell therapy specialist TiGenix unveiled plans to add a Nasdaq listing to its presence on European markets late last year, triggering a 20% rise in its stock price. Bavarian Nordic followed up with its plan at the start of 2016, posting the paperwork for an $86 million (€80 million) U.S. IPO. Both companies are hoping investor sentiment toward biotech stocks has improved over the holiday period. Acacia Pharma and Basilea Pharmaceutica (SWX:BSLN) were among the companies to get caught up in the bloodletting that characterized the final quarter of 2015, which prompted both businesses to back away from planned IPOs. Acacia bounced back this week with Phase III data on a postoperative nausea and vomiting drug that is now months away from being filed with FDA. Basilea posted an update on its own Phase III trial and committed to finding a partner before hitting go on the study program. Nanobiotix (EPA:NANO) got the green light from FDA to start a Phase I trial of its nanoparticle radiotherapy enhancer. And more. Nick Taylor (email | Twitter)

1. Bavarian Nordic eyes $86M Nasdaq IPO to advance cancer, infectious disease pipeline

Bavarian Nordic (CPH:BAVA) is turning to Nasdaq to bankroll the advance of its pipeline of infectious disease and cancer vaccines. The decision follows a breakout two-year period for the long-running company, in which alliances with Bristol-Myers Squibb ($BMY) and Johnson & Johnson ($JNJ) raised investor expectations for its pipeline products.

2. Acacia Pharma hits PhIII endpoint to bounce back from IPO misstep

Acacia Pharma has hit the primary endpoint in another Phase III trial of its postoperative nausea and vomiting drug. The study adds to the burgeoning pool of late-phase data on the drug, which last made headlines in 2014 when it outperformed the placebo in another Phase III trial.

3. Basilea seeks partner for PhIII antibiotic trial after canning Nasdaq IPO

Basilea Pharmaceutica (SWX:BSLN) has come out of talks with the FDA with a clearer idea of how it will design Phase III trials of its broad-spectrum antibiotic. But with its ambition to list on Nasdaq consigned to the scrapheap, Basilea is now steadfast in its desire to find a partner before kicking off the trials.

4. FDA green light sets Nanobiotix up to start nanoparticle prostate cancer trial

Nanobiotix (EPA:NANO) is gearing up for the first U.S.-based clinical trial of its nanoparticle therapy, NBTXR3. The FDA signed off on an IND for a clinical trial of the asset in prostate cancer late last year, setting Nanobiotix up to aim to start enrolling the first of 24 patients for the preliminary stage of the Phase I/II study.

5. TiGenix ends 2015 on a high after filing for Nasdaq IPO

TiGenix is set to learn whether Wall Street will be more receptive to biotech IPOs this year than it was at the back end of 2015. The cell therapy specialist filed to list on Nasdaq just before Christmas, sparking a 20% rise in its stock price in Europe in the final days of the year.

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