Jan. 7 Quick Takes: Strong demand for Cullinan IPO; plus Bayer-CureVac COVID deal and venture rounds for Scorpion, Kira, Carisma and Abcuro and more
Cullinan upsizes IPO for $250M raise
Cullinan Management Inc. (NASDAQ:CGEM) raised $249.9 million in an IPO via the sale of 11.9 million shares at $21. The company had planned to sell 10 million shares at $19-$20, with that number of shares and price range upsized from 8.3 million at $17-$19. Cullinan launched in 2017 as Cullinan Oncology LLC with $150 million in funding from a series A round led by the UBS Oncology Impact Fund, which is managed by MPM Capital, and F2 Ventures.
Bayer, CureVac partner on COVID-19 vaccine
Bayer AG (Xetra:BAYN) entered a deal with CureVac N.V. (NASDAQ:CVAC) to support the development and supply of CVnCoV, an mRNA vaccine in pivotal testing for COVID-19. CureVac will lead regulatory submissions in the EU, while Bayer holds options to market the vaccine outside of Europe. Financial terms are not disclosed. ...