10. Annexon Biosciences
Deal size: $251 million
Valuation: $612 million
Share price: $17.00
Shares sold: 14,750,000
Following a trend seen a few times in 2020, Annexon was just a week into a meaty crossover financing of a nearly $100 million funding drive and then decided to double down with another $100 million in an IPO. In the end, it more than doubled this haul, bringing in $251 million and rounding off our top 10 biotech offerings for the year.
Unlike many of the much earlier-stage biotechs on the list, Annexon is looking to the finishing line—rather than crossing the starting line—with a series of drugs in mid-to-late-stage trials. These include ANX005 and ANX007.
The former is an investigational monoclonal antibody designed to block C1q and activation of the classical complement cascade; it moved into a phase 2/3 study late last year in patients with Guillain-Barré syndrome and Huntington’s disease.
Then there’s ANX007, a C1q antigen-binding fragment, or Fab, designed for intravitreal administration in patients with complement-mediated neurodegenerative ophthalmic disorders. It's moving into a mid-stage clinical trial in geographic atrophy later this year.
An earlier-stage effort, ANX009—which works as a subcutaneous formulation of a formulated monoclonal antibody antigen-binding fragment for systemic antibody-mediated autoimmune diseases—is also in phase 1, with data planned to be published in the coming months.