Biopharma IPOs Start to Gear Up For 2013 After a Lull
This article was originally published in The Pink Sheet Daily
Biopharma and diagnostic IPOs have been relatively quiet since before the U.S. presidential election, but companies are again starting on road shows and updating prospectuses in anticipation of recaptured momentum.
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Q2 2013 biopharma financing increased 139% to $11 billion over Q1’s $4.6 billion, thanks mostly to two huge transactions by Valeant to fund its $8.7 billion takeover of ophthalmics player Bausch & Lomb, the company’s largest acquisition to date. Options and antibody-drug conjugates featured prominently in the alliances.
Plus the latest financing news from Denmark’s Symphogen, ScioDerm, Esperion Therapeutics and Intrexon.
A pair of biotech IPOs priced on March 20 with mixed results. Hepatitis C developer Enanta got a warm reception from investors looking to tap into what has been a lucrative sector. But antibiotics company Tetraphase priced below its range and traded flat.