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ARTICLE | Financial News

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

October 10, 2019 12:28 AM UTC

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. ...