River X’s Post

The 15 largest biotech fundraisings picked up ~$2.8B in Q1. Here's a look at some trends behind the numbers: 1. Biotech fundraising and sentiment is improving: HSBC noted that VC-backed biopharma companies raised $6.8B in the first quarter, the most since early 2022. 2. IPO markets are improving, but some companies are opting to stay private for longer, as witnessed by several later-stage rounds. One of the most notable was FogPharma's $145M Series E, which comes as it progresses its promising β-catenin inhibitor for colorectal cancer through Phase 1/2 trials. Recovering public market sentiment also enabled several solid IPOs: Kyverna Therapeutics, Viking Therapeutics, Inc. and CG Oncology all raised in excess of $300M each. 3. Several successful teams returned for a new gig: The core team behind Prometheus (acquired by Merck last year for $10.8B) was behind San Diego based Mirador's massive $400M launch round. And the co-founders of Karuna (acquired by BMS last year for $14B) launched Seaport Therapeutics with a $100M Series A. These fundraises demonstrate biotech sentiment is improving, which sets up the remainder of 2024 to be one of solid progress for the industry at large.

Thanks arjun for this insightful post. Another good indicator re: biotech sentiment is the smid-cap ETF - $XBI. It's been a tough time since the end of February for smid-cap biotechs, when the prospect of interest rate lowering by the Fed has fallen off given a hotter than expected economy. Hopefully, we'll see a resurgence if/when the economic data cools further, and it's been good to see M&A stay active. One minor clarification, for $VKTX - Viking, that was a follow-on offering, not an IPO. Thanks again for your interesting post. Here's to continued investment in biotech!

Biotech IPOs in 2024: A Sign of Revival? Exciting news in the biotech world! Rapport Therapeutics (RAPP) has successfully reopened the door for biotech IPOs with a 22.4% rise post-IPO, raising $136 million. This marks a significant moment after two months without any biotech listings. Before Rapport's success, the sector had seen eight sizable biotech and clinical-stage device developers go public this year, most of which had poor returns. The year's first biotech IPO, CG Oncology (CGON), was the only one delivering a decent return, though even it fell short of the first-day close. These lackluster performances had dampened demand for new biotech issues, leading to a quiet period in the market. Rapport's strong performance may indicate a turning point for biotech IPOs in 2024. With more companies like CG Oncology showing potential, we could be witnessing the start of a biotech resurgence. Building on this momentum, biotech companies must leverage investor interest by sharing their stories and highlighting their innovative solutions. The market is watching closely, and the opportunities for growth and success are vast.

After a challenging period, biotech IPO successes like CG Oncology and ArriVent are showing promising signs of recovery for the sector. CG Oncology's share price nearly doubled on the first day of trading, the positive market reception suggests a growing interest in quality data on mid- to late-stage assets, reflecting a cautious optimism among investors. As other biotechs line up for IPOs, there's a sense of anticipation as these wins signal a potential shift in the IPO landscape in 2024!

It's no secret that I'm a big believer that #biotech is the investment wave of the 2020s. So, am I surprised that CG Oncology's IPO soared by 96% on its first day? Well, a little! Some #investors have been slow to adopt the biotech wave—especially when it's a brand-new IPO. But CG's success could point to increased (and much-deserved) interest in the field. Time will tell if CG Oncology can live up to these expectations. But one thing is clear: biotech #investments are growing in popularity. And I expect that trend to continue for at least the next several years. https://loom.ly/GNf7vvQ

Keeping an eye on the biotech sector? The latest IPOs are bringing some encouraging news. With cautious optimism from #jpm2024 starting to give way to actual optimism, it's no surprise that this positive trend is spilling over to #lifesciences, #healthtech, and #techbio. Stay tuned for more updates as this exciting industry continues to evolve.

Genetron Holdings Limited（Genetron Health） has announced it will go private through an acquisition by a group of investors led by its co-founder and CEO Sizhen Wang and CICC Healthcare Investment Fund which values the Chinese precision oncology platform at $126 million. The company’s US-listed American Depository Shares (ADSs) jumped 27% in early Thursday trading to $1.1950. Under the terms of the deal, holders of the company’s ADSs will receive $1.36 in cash per ADS, a 42% premium to the closing price on October 10. The merger is expected to close during the first quarter of 2024, subject to conditions including the approval of shareholders holding two-thirds of its shares. The company said members of the consortium and rollover shareholders represent roughly 59.7% of its shares. Genetron specializes in offering molecular profiling tests, early cancer screening products and companion diagnostics development. Contact the author at... More at #Proactive #ProactiveInvestors http://ow.ly/vG67104XzuP

With the annual J.P. Morgan Healthcare Conference underway in San Francisco, the #biopharma industry is abuzz with talk of antibody-drug conjugates (ADCs). According to J.P. Morgan, interest in ADCs remains high despite a general decrease in deal flow. These innovative cancer therapies use antibodies to deliver powerful drugs directly to tumor cells, making them a potentially game-changing treatment option. Excitingly, several major deals have already been announced at the conference, including Johnson & Johnson's acquisition of Ambrx Biopharma for $2 billion. It's clear that ADCs are here to stay and could make a significant impact in the fight against cancer. #biotech #lifesciences Source: https://lnkd.in/dtV9PMYC

💲𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝗕𝗶𝗼𝘁𝗲𝗰𝗵 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁💲 Moving into the final part of this year and looking back at September there were some large investments made! The 5 biggest rounds of fundraising globally were: Generate:Biomedicines, raised $273M in Series C Nimbus Therapeutics, raised $210M in Private Equity Apollo Therapeutics, raised $226.5M in Series C Avalyn Pharma Inc., raised $175M in Series C Mariana Oncology, raised $175M in Series B That is only a handful of investments made, but September saw some incredibly strong numbers. Is it bringing hope that the market is shifting positively in the right direction? #investment #biotech #lifesciences

As we enter the final month of 2023, our projections hold true: the month's onset brings a heightened pulse to mergers and acquisitions, marked by a significant spike of 34% in transaction volume and a noteworthy 27% increase in transaction value. Among 425 deals, 14 major transactions valued over 500 million USD each, dominated 84% share of the total M&A deal value for the week. At the forefront of these major transactions is the oncology research and treatment sector with AbbVie Inc.'s acquisition of ImmunoGen, Inc., valued at 10.10 Billion USD. The addition of ImmunoGen, Inc.'s oncology portfolio underscores AbbVie Inc.'s dedication to shaping advancements within the field of cancer therapeutics, capitalizing on the unique contributions of ImmunoGen, Inc. particularly through its flagship cancer therapy, ELAHERE®. As we continue to document mergers and acquisitions activity throughout the month, be prepared to discover which industry deal will boast the highest transaction value by the year's end. We're also preparing an in-depth compilation of our top Global M&A Deals for 2023, providing a thorough recap of M&A dynamics for the entire year. Stay in the loop for the official announcement at IMAA by following our pages! Source: Institute for Mergers, Acquisitions and Alliances (IMAA) #valuation #transactionmonitoring #mergersandacquisitions