Biopharma IPOs have faced tough conditions in recent years, but 2024 is showing signs of improvement in terms of value, while stumbling on overall performance. IPO values remain significantly lower than the peak years of 2020-2021 and are still below collective values seen in 2014-2019, however, this year's value marks a recovery compared to the challenging environment of 2023.
Brightflow SAS raised €16.5 million (US$18 million) in a series A financing round that will go towards developing its right ventricular mechanical circulatory support system. The company is working towards bringing the first long-term fully percutaneous implantable pump for right-sided heart failure to the market, Sophie Humbert, CEO at Brightflow, told BioWorld.
Med-tech firms raising money in public or private financings, including: Billiontoone, Discure Technologies, Ionopticks, Perimeter Medical Imaging AI, Viome.
Candid Therapeutics Inc. launched with ex-China control of two bispecific T-cell engager antibodies that it plans to develop for autoimmune diseases. The San Diego-based company will start off with a pocketful of cash, having raised over $370 million for the development of the in-licensed candidates.
Orsobio Inc. has closed an oversubscribed $67 million series B financing, the proceeds of which will be used to accelerate development of its mitochondrial protonophore portfolio for the treatment of obesity and associated metabolic disorders.
Candid Therapeutics Inc. launched with ex-China control of two bispecific T-cell engager antibodies that it plans to develop for autoimmune diseases. The San Diego-based company will start off with a pocketful of cash, having raised over $370 million for the development of the in-licensed candidates.
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