Financings Of The Fortnight Wonders How Wide-Open Is The Window?
This article was originally published in The Pink Sheet Daily
The beginnings of ominous signs are appearing in the flourishing biotech IPO market. Plus news on recent financings by Foundation Medicine, Arvinas, Moderna Therapeutics and Frazier Healthcare.
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The biotech, Arvinas, will pursue therapies that degrade proteins, a process that could lead to therapeutic approaches to targets previously thought to be undruggable. The $15 million in venture funding is augmented by $3.5 million from the state of Connecticut.
Sangamo licensed Biogen zinc finger protein transcription factor candidates in an alliance worth over $2bn. Exercising an option it gained in 2017, Takeda bought celiac disease-focused PvP Biologics for up to $330m in earn-outs. A strong showing of IPOs prompted biopharma financing to increase from last month.
Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced February 2020.