Oct. 9 Financial Quick Takes: BioNTech, DBV, MiroBio, Hrain, Beijing Gene+, Ginkgo

BioNTech cuts IPO terms
BioNTech AG now plans to sell fewer shares at a lower price range in a move that could shave nearly $1 billion off the biotech’s postmoney valuation. The company’s latest SEC filing for the offering shows it planning to sell 10 million ADSs at $15-$16. At the $15.50 mid-point, a sale of that many shares would raise $155 million at a valuation of $3.5 billion. Previously, BioNTech said it would sell 13.2 million ADSs at $18-$20; at the $19 mid-point, BioNTech would have raised just over $250 million at a valuation of nearly $4.4 billion.

DBV raises $125M
DBV Technologies S.A. (Euronext:DBV; NASDAQ:DBVT) raised $125 million in a global offering of shares, which includes the sale of 15.8 million ADSs at $6.59 and a private placement of about 1.6 million shares in Europe at €12.04 ($13.21). The deal comes a few days after the company said FDA accepted its peanut allergy therapy, Viaskin Peanut, for review. The PDUFA date is Aug. 5, 2020.
MiroBio raises $33M in series A
MiroBio Ltd. raised £27 million ($33.2 million) in a series A round led by Oxford Sciences Innovation (OSI) and Samsara Biocapital; Advent Life Sciences and SR One also participated. The University of Oxford spinout is developing antibody modulators of immune cell receptors with an initial focus on autoimmune diseases.
Hrain completes $28M series B
Shenzhen Capital led an RMB200 million ($28 million) series B round for Shanghai-based Hrain Biotechnology Co. Ltd., which has anti-CD19 CAR T cells in Phase I testing in China for lymphoma and leukemia and BCMA-targeting CAR T cells in Phase I testing in China for multiple myeloma. Yangming Capital, Junchenda Capital, Zhanglong Haifa, Shanghai Yongrun Investment, Zeyu Capital and Qianhai Capital also participated in the financing.

Beijing’s Gene+ in B round
Precision cancer medicine company Beijing Gene+ Technology Co. Ltd. raised nearly RMB200 million ($28 million) in a series B round led by ShenZhen Co-Stone Asset Management Co. Ltd. with participation by BGI, Volcanics Venture, Green Pine Capital Partners, UEC Group and Desun. The company plans to use the financing to advance its early cancer screening and prevention services and promote integration of its gene-sequencing platforms.

Ginkgo raises $350M fund
Less than a month after raising a $290 million series E round, Ginkgo Bioworks Inc. has raised a $350 million fund to invest in companies that use its bioengineering technology. Investors in the fund include General Atlantic, Viking Global Investors and Cascade Investment. The new fund was first reported by Reuters and confirmed by BioCentury.

Targets: BCMA (TNFRSF17; CD269) - Tumor necrosis factor receptor superfamily member 17

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