Add Entrada Therapeutics to the list of preclinical biotechs that think they can convince investors their drugs will work in humans as it raises $181.5 million on the Nasdaq Friday.
There is a clinical-stage biotech joining the Wall Street frenzy before the weekend, though. Aura Biosciences seeks $75.6 million from its own IPO. The oncology biotech presented interim mid-stage safety data on its lead program in a certain melanoma earlier this month.
Oh, and don't forget that spooky SPAC season is back as Arbor Rapha Capital Bioholdings, a blank-check company, lands on the public markets today to raise $150 million for a future biopharma merger.
For its part, Entrada is joining the public markets at an upsized price of $20 a share seven months after inking a $116 million series B to ramp up clinical development of a pipeline of investigational treatments for rare diseases. The biotech's goal is to get biologics through cell membranes so they can hit targets within the cell, where many disease targets are found but are largely inaccessible.
First up are two assets for the neuromuscular disease Duchenne muscular dystrophy, then two other oligonucleotides for myotonic dystrophy Type 1 and Pompe disease. Undisclosed neurodegenerative and inflammatory diseases are also targets.
Arbor Rapha Capital Bioholdings, on the other hand, is looking to raise cash from its IPO to buy a biopharma using the blank-check model. The investment firm behind the SPAC, Rapha Capital Management, has invested in the likes of Takeda-partnered Poseida Therapeutics, Bellicum Pharmaceuticals and NexImmune.
The investment shop launched a $100 million fund for life sciences startups in April.