Nov. 19 Quick Takes: Olema’s IPO, plus venture rounds for Imago, Medable, China deal for AUM-Newsoara and Qiming’s $1.2B fund
Olema posts big gain after $209M IPO
Shares of Olema Pharmaceuticals Inc. (NASDAQ:OLMA) rose $30 (158%) to $49 in their first day of trading after the company raised $209 million through the sale of 11 million shares at $19 in an upsized IPO. The price gave it a postmoney valuation of $731.9 million; it ended the day with a market cap of $1.9 billion. The company had hoped to sell 10 million shares at $16-$18. Olema’s OP-1250, a small molecule complete estrogen receptor antagonist (CERAN) targeting ER and ESR2, is in a Phase I/II trial to treat breast cancer; it raised a $54 million crossover round in July.
Imago raises $80M series C
Myeloproliferative disease company Imago BioSciences Inc. raised $80 million in series C financing led by Farallon Capital Management LLC. Existing investors Blackstone Life Sciences, Frazier Healthcare Partners, Omega Funds, Amgen Ventures, MRL Ventures Fund, HighLight Capital, Pharmaron Investments Ltd., Greenspring Associates and Xeraya Capital joined the round. New investors T. Rowe Price Associates Inc., Blackrock Advisors LLC, Surveyor Capital, Irving Investors and Kingdon Capital Management also participated. The funds will be used to complete a Phase III trial of bomedemstat (IMG-7289), a small molecule inhibitor of LSD1 to treat myeloproliferative neoplasms...