2. Legend Biotech

Legend Biotech
(Legend Biotech)

2. Legend Biotech
Deal size: $424 million
Valuation:  $3.2 billion
Share price: $23.00
Shares sold: 18,425,000

Chinese CAR-T player Legend Biotech, which was spun out of Genscript Biotech, originally planned for a $100 million IPO. But like so many biotechs this year, it shot far higher, nabbing a massive $424 million, the second highest of 2020. Legend will certainly need the funds to advance a pipeline spearheaded by Johnson & Johnson-partnered anti-BCMA therapy JNJ-4528, which is in early to mid-stage trials.

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After its IPO in the summer, its then-CEO, Dr. Yuan Xu, unexpectedly resigned for “personal reasons,” with chief financial officer Ying Huang taking over as Legend's full-time new chief to transform the biotech into a potential commercial player. It got a step closer when, at the end of 2020, the biotech announced a rolling submission with the FDA for JNJ-4528, now known as ciltacabtagene autoleucel, in relapsed and/or refractory multiple myeloma.

2. Legend Biotech