Shadd Dales’ Post

We are excited to announce the successful close of our £40.5 million Series A financing! We are very proud to welcome our new investors Pfizer Ventures LLC, who led the round, COLUMBUS VENTURE PARTNERS,S.G.E.I.C., S.A.U. and British Patient Capital. They were joined by our founding investor Advent Life Sciences, and seed investor Epidarex Capital, underlining strong blue chip confidence behind Curve Therapeutics' vision to transform the lives of patients by addressing disease targets which are intractable to conventional #drugdiscovery methods. The financing will enable Curve Therapeutics to turbocharge its Microcycle® discovery platform and advance its promising pipeline of assets with the potential to treat unmet clinical needs in a diverse range of diseases, including cancer. To learn more about the financing and our proprietary discovery platform, read the full press release here: https://lnkd.in/eRDFP2X6 #biotech #financing #investment

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

LucidQuest Strategic Insights (lqventures.com) >>> Gene&Cell Therapy >> Is CG Oncology’s IPO a benchmark for a better year in public offerings? : NEW YORK — CG Oncology rang the Nasdaq opening bell on Thursday morning, marking a rare sight for biotechs over the past two years as the volume of initial public offerings shrank from nearly 100 in 2021 to about a dozen in 2023. Depending on how the market reacts to CG’s stock $CGON, the $380 million debut could be a barometer for the year to come. Industry insiders routinely caution against judging the state of the IPO market based on one company, but they’ll likely have more data points to examine now that at least five other biotechs are poised to follow suit. Since the IPO market’s pandemic highs, the industry has oscillated through tumbling valuations, a steady drumbeat of layoffs and pipeline pruning. The average time between crossover round and IPO nearly tripled from 107 days in 2020 to 306 days in 2023, according to a recent William Blair report. CG’s listing marks a relatively quick progression compared to its peers: It disclosed a $105 million crossover last August. The private financing gap has also ballooned, as 96 of the 177 biotechs that raised a Series B between 2020 and 2022 have yet to disclose a Series C, per the William Blair report. But there have been brief glimpses that brighter days are ahead even as roadblocks have forced a wedge in the IPO plans for many biotechs. In December, the $XBI came close to shattering its best one-month performance in the past decade. IPOs to watch  On Thursday morning, CEO Arthur Kuan rang the opening bell to mark the listing of CG, a bladder cancer drugmaker that cleanly fits the late clinical-stage playbook of an IPO candidate in the current environment. Kuan joined CG a decade ago after losing his father to cancer. The company priced shares at $19.00 each, making it the first biotech to debut above the range it had set ($16.00 to $18.00) in more than two years. It’s the largest biopharma IPO since Acelyrin’s public offering last May. As 50 or so people cheered and confetti popped at the Nasdaq, filled with lights and cameras, it felt like two years of tension had been released, and heads in Kendall Square, South San Francisco and San Diego had all turned around to see where the noise was coming from. Whether CG’s enthusiasm sustains itself for the weeks and months to come depends on the next few biotechs likely to go public. That’s ArriVent Biopharma, Kyverna Therapeutics, Metagenomi, Fractyl Health and Alto Neuroscience. ArriVent is another oncology biotech in Phase III development. It’s expected to list in the coming days after revealing plans for a $135 million listing earlier this week. It could draw ample support based on its profile: Its lead therapy is in Phase III, it has an experienced CEO… #lucidquest #genetherapy #celltherapy

We are delighted to share the outstanding performance of Ally Bridge Group, one of our top-performing fund managers in the life sciences sector, which has successfully executed its fourth liquidity event since September 2023. Specializing in late-stage private equity, Ally Bridge Group is dedicated to significant investments in groundbreaking life science innovations aimed at fulfilling critical medical needs, primarily within the U.S. MedTech, biotech, diagnostics, and telehealth industries. Our firm has consistently supported Ally Bridge's previous funds and takes pride in their recent achievements in the U.S., highlighted by four notable liquidity events within the last five months: 𝟭. 𝗖𝗚 𝗢𝗻𝗰𝗼𝗹𝗼𝗴𝘆 [𝗖𝗚𝗢𝗡.𝗡𝗮𝘀𝗱𝗮𝗾]: Listed on January 25, 2024, this company focuses on oncolytic immunotherapy for bladder cancer. Its IPO was nearly 20 times oversubscribed, with shares initially offered at $19 and closing at $37.26 after opening at a 96% increase, valuing the company at $2.2 billion. https://lnkd.in/dkMXjz4r    𝟮. 𝗖𝗮𝗿𝗴𝗼 𝗧𝗵𝗲𝗿𝗮𝗽𝗲𝘂𝘁𝗶𝗰𝘀 [𝗖𝗥𝗚𝗫.𝗡𝗮𝘀𝗱𝗮𝗾]: Listed in November 2023, it is a clinical-stage biotech firm developing next-generation cell therapies for cancer. The IPO price was $15.00 per share, with a recent closing at $22.01. 𝟯. 𝗥𝗮𝘆𝘇𝗲𝗯𝗶𝗼 𝗜𝗻𝗰 [𝗥𝗬𝗭𝗕.𝗡𝗮𝘀𝗱𝗮𝗾]: Listed in September 2023, specializing in targeted radiopharmaceuticals for cancer treatment, was acquired by Bristol Myers Squibb on December 26, 2023, at $62.5 per share, compared to its IPO price of $18.00. https://lnkd.in/g7bcEkiZ 𝟰. 𝗥𝗲𝗹𝗶𝗲𝘃𝗮𝗻𝘁: Invested in March 2023, this medical device company focuses on treating chronic lower back pain and was acquired by Boston Scientific on November 17, 2023. https://lnkd.in/dhjGUJAC Congratulations to all our clients who have participated in these ventures. We look forward to further deploying capital into Ally Bridge’s follow-on fund, 'ABG V'.

Calling ALL Drug Hunters - imagine building your next drug discovery program(s) in a company you own and control. #freethefounders Alongside other drug hunters like myself who are there to be your thought partners and help you execute every step of the way. Curie.Bio unlocks an incredible opportunity for founders to build successful therapeutics companies. Founders often suffer from dilution when raising a Series A. Dilution is a product of the capital raised and company valuation. We help founders minimize dilution by maximizing progress with less capital. By reaching critical milestones on blockbuster TPPs, you can raise more capital at a much higher valuation. Last fall, our first portfolio company, Forward Therapeutics, Inc., raised a $50M Series A to generate clinic data! A recent Oppenheimer report revealed this raise was the BIGGEST valuation step up compared to all other therapeutics companies that raised a Series A in the last 12 months. The best part? The founders retained significant ownership in their company. Please don't hesitate to reach out through our website if you have a therapeutic idea worthy of funding. https://lnkd.in/e4NWnqwF 

Gene&Cell Therapy >> Is CG Oncology’s IPO a benchmark for a better year in public offerings? : NEW YORK — CG Oncology rang the Nasdaq opening bell on Thursday morning, marking a rare sight for biotechs over the past two years as the volume of initial public offerings shrank from nearly 100 in 2021 to about a dozen in 2023. Depending on how the market reacts to CG’s stock $CGON, the $380 million debut could be a barometer for the year to come. Industry insiders routinely caution against judging the state of the IPO market based on one company, but they’ll likely have more data points to examine now that at least five other biotechs are poised to follow suit. Since the IPO market’s pandemic highs, the industry has oscillated through tumbling valuations, a steady drumbeat of layoffs and pipeline pruning. The average time between crossover round and IPO nearly tripled from 107 days in 2020 to 306 days in 2023, according to a recent William Blair report. CG’s listing marks a relatively quick progression compared to its peers: It disclosed a $105 million crossover last August. The private financing gap has also ballooned, as 96 of the 177 biotechs that raised a Series B between 2020 and 2022 have yet to disclose a Series C, per the William Blair report. But there have been brief glimpses that brighter days are ahead even as roadblocks have forced a wedge in the IPO plans for many biotechs. In December, the $XBI came close to shattering its best one-month performance in the past decade. IPOs to watch  On Thursday morning, CEO Arthur Kuan rang the opening bell to mark the listing of CG, a bladder cancer drugmaker that cleanly fits the late clinical-stage playbook of an IPO candidate in the current environment. Kuan joined CG a decade ago after losing his father to cancer. The company priced shares at $19.00 each, making it the first biotech to debut above the range it had set ($16.00 to $18.00) in more than two years. It’s the largest biopharma IPO since Acelyrin’s public offering last May. As 50 or so people cheered and confetti popped at the Nasdaq, filled with lights and cameras, it felt like two years of tension had been released, and heads in Kendall Square, South San Francisco and San Diego had all turned around to see where the noise was coming from. Whether CG’s enthusiasm sustains itself for the weeks and months to come depends on the next few biotechs likely to go public. That’s ArriVent Biopharma, Kyverna Therapeutics, Metagenomi, Fractyl Health and Alto Neuroscience. ArriVent is another oncology biotech in Phase III development. It’s expected to list in the coming days after revealing plans for a $135 million listing earlier this week. It could draw ample support based on its profile: Its lead therapy is in Phase III, it has an experienced CEO who’s already sold a biotech, and it has a drug… #lucidquest #genetherapy #celltherapy

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🚀 Exciting Insights from Apogee Therapeutics' Journey to IPO 🧬 As we reflect on the remarkable journey of Apogee Therapeutics, it’s a privilege to share some key insights from their conversation with Michael Henderson, CEO of Apogee Therapeutics, and Kyle LaHucik, Senior Reporter at Endpoints News. In a market where biotech's have tread cautiously, Apogee Therapeutics's bold leap into a $300 million IPO focused on immune and inflammatory sectors stands out. Here's a glimpse into the discussion: 🌟 Why an IPO in Such a Challenging Market? Apogee didn't just aim for larger markets; they were determined to capitalize on big ideas. Harnessing a first-mover advantage was crucial, and when asked by investors how they could accelerate their pace, Apogee's answer was clear - from draft registration to IPO in just four months! 💡 The Heat in the I&I Space: Despite warnings from bankers about the difficulty of breaking into big markets with substantial risks, Apogee's compelling science and preclinical investments set them apart. 🔍 Facing the Big Question: "Why not wait until clinical trials?" Many have been burned before, leading to skepticism. Apogee’s response? A solid strategy and a transparent path forward. 🤝 Securing Cross-Over Investors: After a successful Series B, raising $149 million in 2022, Apogee strategically brought over cross-over investors, ensuring rapid and significant backing for the IPO. 🎯 Targeting Clinical Validation to De-Risk Early: The goal is crystal clear – to achieve clinical validation early and establish clear differentiation, adding undeniable value in the I&I space. 🧐 Considering a Reverse Merger? Yes, Apogee did. It’s vital for every company to explore all avenues, and with robust science and strong investor support, all options were on the table. 💥 From Stealth to Spotlight: Initially targeting $200M, Apogee's early TTW campaign was pivotal. Being in stealth mode meant needing to amplify their message, which they did effectively. As we witness Apogee's journey, it’s a masterclass in strategic planning, investor relations, and scientific innovation. Here's to their continued success in revolutionizing the biotech landscape! #jpm2024 #innovation #strategy #biotech

We have closed our £26m Series B follow-on financing. The round was led by new #investor Panakes Partners, joined by our existing investors Versant Ventures, Novartis Venture Fund, Forbion, Epidarex Capital and IP Group plc. The #investment will fund the Phase 2a #clinical #proofofconcept trial in #cysticfibrosis for our lead programme, ETD001. With first-in-class potential, ETD001 targets the ENaC #ionchannel in the airway epithelium, increasing the hydration and clearance of mucus to drive substantial improvements in #lungfunction. Funds will also support the progression of our other #preclinical programmes targeting the underlying mechanisms of mucus congestion in chronic #respiratory diseases. Alongside the financing, we are delighted to welcome Dr Rob Woodman, Partner at Panakes, to our #BoardofDirectors. Read the full press release here: https://rb.gy/kr6wf5

Gene&Cell Therapy >> We just had a string of successful biotech IPOs. Now what?: When CG Oncology’s $CGON IPO hit a few weeks ago, its success with investors startled a wide swathe of biotech watchers who had grown accustomed to the frigid market temperatures that characterize a biotech winter. CG’s outing was a clear home run, pricing in at $19 — over the range — with substantial demand and a subsequent spike pushing the price to $45 this week. Bioregnum Opinion Column by John Carroll ArriVent $AVBP  — another Phase III oncology play — came right on its heels, pricing at $18, now about $22. And it happened again with Kyverna Therapeutics $KYTX, with a distinctly trendy focus on autoimmunity and a ton of buyer demand that let the biotech upsize the offering and initially price shares at $22. Today the stock is about $30. But the upbeat response wasn’t consistent. Fractyl Health $GUTS (with a pivotal endoscopic procedural therapy plus a preclinical gene therapy approach to obesity it’s been touting) and Metagenomi $MGX (next-gen gene editing) both stumbled out of the gate, underscoring dire warnings about the lack of appetite for preclinical assets. It’s obviously still extremely early in the game, but each piece of the emerging puzzle is being studied with medieval devotion to discern what will happen through the rest of the year for biotech. The fourth-quarter thaw we saw toward the end of last year on the XBI has led to more solid green shoots of a biotech spring, underscoring that the yearned-for recovery is off to a start. And that’s incredibly important. IPO money — and the follow-ons to come — can encourage VCs that have been hunkering down for the winter, focused on streamlining their portfolio companies. It’s a source of billions of dollars that can reverse some worrisome trends at CDMOs, CROs and other suppliers. And it offers bankers a chance to get back in the game after sitting on the sidelines in a post-boom funk. Will it keep going? Let’s look at what works. Human data remain the single most important indicator of success. Strong Phase II data and a late-stage program underway with real promise is key. That’s not particularly news in biotech, but it’s key to getting generalists back in big numbers. And that will play a crucial role in getting the public market jazzed again — moving past the specialists who dominate today. Conversely, anything preclinical is going to be a tough sell. Bright horizons don’t sell well on the Nasdaq — unless they are within sight of a market. Investors are also buying into the M&A surge that took off toward the last few months of 2023 — including investors who have been making money on recent buyouts and have cash to wager. Pharma has some big holes to fill in the pipeline as key drugs lose patent protection, and M&A will do it. And they are perfectly willing to… #lucidquest #genetherapy #celltherapy