The go-go market for biotech IPOs is steaming ahead, pushing two more developers onto Nasdaq with a combined $239 million payoff at above-range prices. And biotech billionaire Patrick Soon-Shiong set a price range on his upcoming IPO for NantKwest at $20 to $23 a share, looking to raise around $160 million--or more--based on a company valuation of $2.2 billion.
Overcoming the challenges of creating an oral peptide drug aimed at irritable bowel disease is the business model behind Protagonist Therapeutics, a Milpitas, CA-based biotech that is celebrating a new, $40 million round designed to pay for the early-stage clinical work needed to prove its drug candidate can work in humans.
In another demonstration of the big bets being made on reengineering T cells to attack cancer, Oxford, U.K.-based Immunocore has come up with a monster $320 million venture round designed to push the pipeline well past positive early stage data for its lead therapy.
Danaher has signed a letter of intent to buy Israeli computer-aided imaging player Applied Spectral Imaging for $30 million, according to Globes. The deal would give acquisition-hungry Danaher a way into the market for hardware and software to bolster the imaging capabilities of research labs.
Clarus Ventures has unveiled a lead role in funding a startup, San Francisco-based Nuvelution Pharma, that has an eminent group of Big Pharma veterans on the board as it sets out to ink a few clinical trial deals with the industry.
Biotech billionaire Patrick Soon-Shiong is pumping $71 million into Conkwest as it preps a move to go public in a $172.5 million IPO.
Cambridge, MA's Seres Therapeutics pulled off an above-its-range IPO, grossing about $134 million to bankroll its work on drugs that change the weather in the gut to treat disease.
The mayor of London has come up with a scheme to bridge the financial chasm between the U.K. and U.S. biotech hubs. Officials have called Eli Lilly, Pfizer and JP Morgan to a meeting to discuss the plan, which entails creating a £10 billion ($15 billion) fund to invest in drugs across the development spectrum, The Financial Times reports.
Canadian biotech Clementia Pharmaceuticals raised $60 million in mezzanine cash to help it fashion a once-failed Roche drug into a promising treatment for a rare disease.
La Jolla, CA-based Avalon Ventures led a $17 million A round for Ankasa Regenerative Therapeutics, handing over an $8.5 million tranche to an upstart biotech working on new technology for reactivating stem cells and tissue regeneration.