July 22 Financial Quick Takes: Shanghai's rising STAR; plus Retrotrope and RAPT
Broad gains in debut of Shanghai's STAR market
The first group of 25 companies soared out of the gate on the Shanghai exchange’s science and technology innovation board, posting average gains of 140% in their first day of trading Monday. The first biotech to debut on the STAR market is expected to be Shenzhen Chipscreen Biosciences Ltd. (Shenzhen, China) (see "Chipscreen Set to Test Shanghai’s New Innovation Board").
Retrotrope raises $20M series C
Retrotope Inc. (Los Altos, Calif.) raised $20 million in a series C round led by Mehta Family Partners and private investor Timur Artemev. The round saw participation by other existing investors and new investor Morningside. Retrotrope will use the financing to expand its pipeline of deuterium-stabilized polyunsaturated fatty acids for degenerative diseases...