With biopharma IPO volume at a 10-year low, two companies are bucking the trend with plans to plunge into the public market. Bifunctional antibody drug developers Bicara Therapeutics Inc. and Zenas Biopharma Inc. have filed with the SEC to go public though neither has named share-price ranges.
As Bridgebio Pharma Inc. awaits word from the U.S. FDA regarding the small-molecule transthyretin (TTR) stabilizer acoramidis for TTR-mediated amyloidosis cardiomyopathy, the firm closely followed this week’s headline about another spinout with news that the Palo Alto, Calif.-based company has signed a joint research pact with Hitgen Ltd., of Chengdu, China.
The National Medical Products Administration (NMPA) has approved Innovent Biologics Inc.’s Dupert (fulzerasib) as the first KRAS G12C inhibitor in China to treat select patients with non-small-cell lung cancer (NSCLC).
Regeneron Pharmaceuticals Inc. suffered an unsurprising hitch in the form of a complete response letter (CRL) related to linvoseltamab, a bispecific antibody designed to bridge B-cell maturation antigen on multiple myeloma cells containing CD3-expressing T cells, for relapsed/refractory multiple myeloma.
Adcendo ApS has inked a deal with Multitude Therapeutics Inc. and is licensing Multitude’s phase I-ready antibody-drug conjugate (ADC), ADCE-T02, which targets tissue factor. Under the deal, Copenhagen, Denmark-based Adcendo gains exclusive development and commercialization rights for the ADC globally, excluding greater China (mainland China, Hong Kong, Macao and Taiwan) where Multitude retains all rights.
The U.S. FDA approved Janssen Biotech Inc.’s Rybrevant (amivantamab-vmjw) plus a new oral tyrosine kinase inhibitor called Lazcluze (lazertinib) as a first-line combination treatment to treat select non-small-cell lung cancers.
In its fifth year of transcription factor discovery, Talus Bioscience Inc. just raised $11.2 million in new venture funding. Seattle-based Talus will use the money to further develop its MARMOT (Multiplexed Assays for the Rational Modulation Of Transcription Factors) platform.
The BioWorld Biopharmaceutical Index climbed 16.31% by the end of July, continuing its lead over both the Nasdaq Biotechnology Index, which rose 10.82%, and the Dow Jones Industrial Average, up 8.37%. This follows an 8.15% gain in the BBI at the close of May, marking a strong performance throughout 2024.
TYK Medicines Inc. made a strong debut on the main board of the Hong Kong Stock Exchange (HKSE), raising HK$579 million (US$74.32 million) to commercialize its lead compound, EGFR inhibitor TY-9591, now in pivotal trials in patients with EGFR mutation-positive lung cancer.
The year 2024 squeaked through another IPO this week, that of Actuate Therapeutics Inc., which raised $22.4 million becoming the 15th biopharma company to debut on U.S. exchanges this year. Out of 17 companies total, including one listing on the Hong Kong Stock Exchange and another on the SIX Swiss Exchange, the industry has raised a total of $4.8 billion through IPOs.
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