Following a significant decline in 2023, private investments in public equity (PIPEs) are rebounding strongly in 2024. Through late May, the collective value of PIPEs has already surpassed the full year 2023 by more than three times, and is also ahead of 2022.
The med-tech sector experienced some relief in the first quarter of 2024 (1Q24) as total financings climbed to $6.38 billion, eclipsing the value of any quarter in 2023. For perspective, the final quarter of 2023 recorded $3.32 billion, and 1Q23 raised $4.69 billion, with an average of $4.42 billion in financings per quarter in 2023.
Grey Wolf Therapeutics Ltd. added $50 million to its series B, bringing the total for the round to $99 million and providing funding to expand the scope of an ongoing phase I/II trial of its lead antigen modulation program.
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