March 31 Quick Takes: Muted reception for Achilles in market debut; plus BridgeBio-Helsinn, Scribe, Outpace, OnQuality, AffaMed, Treos
Achilles Therapeutics Inc. (NASDAQ:ACHL) briefly traded above its $18 IPO price before ceding ground in its first day of trading, settling to $16.55 in trading Wednesday. The clinical T cell therapeutics developer raised $175.5 million through the sale of 9.8 million shares; the price valued the biotech at $731.2 million. Top shareholder Syncona Ltd. (LSE:SYNC) holds a 27% stake, worth roughly $200 million based on the IPO price.
Doudna’s Scribe raises $100M crossover round
Scribe Therapeutics Inc., which is developing gene editing therapies for neurodegenerative diseases using engineered CRISPR enzymes, raised a $100 million series B round led by Avoro Ventures and Avoro Capital Advisors, with participation by OrbiMed Advisors, Andreessen Horowitz, Perceptive Advisors, funds and accounts advised by T. Rowe Price Associates Inc., funds managed by Wellington Management, RA Capital Management, Menlo Ventures and an undisclosed investor. Co-founded by CRISPR pioneer and University of California Berkeley professor Jennifer Doudna, the company emerged from stealth in October with a deal with Biogen Inc. (NASDAQ:BIIB)...