Initial public offerings are the lifeblood of the biotech industry. Stock listings give young companies access to the vast amount of cash necessary to advance their drugs through clinical development, and their venture backers a crucial opportunity to earn a return and form new biotechs.
At the start of the last decade, the IPO markets weren’t receptive to biotech companies. But by 2013, public investment was pouring into the industry, drawn by scientific advances and boosted by the newfound interest of a broader range of investors.
Ever since, biotechs and their backers have ridden a multi-year boom. Many young drugmakers, including those still years from human trials, have gone public at valuations never thought possible in the 2000s. Records have been made, and broken, several times over. Last year, a new high water mark was set during the deadliest pandemic in a century.
But a lucrative IPO doesn’t mean the company will thrive. Which biotechs create value over time, and which fail? What types of companies are generating the best returns? Who are their top investors? READ MORE
By Ben Fidler
Source: biopharmadive.com
Novartis will acquire Mariana’s lead candidate MC-339, a radioligand therapy (RLT) designed to target small-cell lung cancer. Last year, Mariana had raised $175m in a Series B round from several funds and pharma giant Eli Lilly.
The company’s aspiration to expand the use of its obesity products to cardiovascular indications has been successful. In March, its blockbuster drug Wegovy was approved by the US Food and Drug Administration (FDA) for reducing the risk of cardiovascular diseases in obese or overweight adults.
Massachusetts-based Deciphera brings to the table an extensive kinase inhibitor pipeline, kinase drug discovery expertise, and a strong commercial and sales platform in the US and European markets that is meant to advance Ono’s capabilities and presence in the oncology space.
