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Finance

Canada’s Sagard gaining healthcare foothold via royalty fund

Canadian alternative asset management firm Sagard Holdings is dipping its toe into life sciences investments via a new royalty fund, which has raised $475 million in a first close. The firm isn’t disclosing the final...

As sales soar in China, AZ warns of hit from COVID-19 epidemic

Just as China jumped to become AstraZeneca’s second-largest region by revenue, the U.K. pharma warned in its 2020 guidance that the COVID-19 outbreak may have a negative impact on revenues for at least the next...

You say you want a Revolution? Oncology company is latest to post big gain after IPO

Revolution’s first day performance suggests appetite for new biotech listings continues unabated in 2020, as investors’ demand for the cancer company’s shares rose both before and after its offering priced. Revolution Medicines Inc. (NASDAQ:RVMD) raised...

On heels of reimbursement, Innovent raises $303M to ready Tyvyt rollout

Within one month of its stock reaching an all-time high, Innovent priced its second follow-on offering on the Hong Kong exchange early Thursday, raising HK$2.4 billion ($303.2 million) to expand manufacturing capacity in preparation for...

Vivo-led $105M round to spur development of ALX’s CD47

Encouraged by safety data for ALX’s CD47-targeted cancer therapy, Vivo Capital led the biotech’s $105 million series C Wednesday to fuel its clinical catch-up to its most advanced competitor. Other new investors including funds managed...

Vivo-led $105M round to spur ALX’s CD47

Encouraged by safety data for ALX’s CD47-targeted cancer therapy, Vivo Capital led the biotech’s $105 million series C Wednesday to fuel its clinical catch-up to its most advanced competitor. Other new investors including funds managed...

Feb. 12 Financial Quick Takes: Trio of follow-ons; plus Teva, PentixaPharm, Inotrem

Theravance, Adverum, Moderna price follow-ons  With a $148.5 million offering, Theravance Biopharma Inc. (NASDAQ:TBPH) was among at least three biotechs raising follow-ons after-market Tuesday. The company sold 5.5 million shares at $27, a 12% discount...

AurorA debuts to back early-stage European biotechs

A new Europe-focused investment vehicle has launched with €10 million in backing from two Italian biopharmas. AurorA Science will be managed by AurorA-TT, a tech transfer company founded in 2017 and led by co-founder, Chairman...

Moderna raises $500M, readies coronavirus vaccine for clinical testing

Moderna raised $500 million Tuesday after announcing that its coronavirus vaccine is ready for Phase I testing, and providing an update on other candidates in its antiviral vaccine pipeline. Moderna Inc. (NASDAQ:MRNA) sold 26.3 million...

Coronavirus could stall China IPOs

Although Bio-Thera priced its Shanghai IPO Monday, the Guangzhou-based antibody company will likely prove to be the exception among biotechs planning to debut on the Shanghai and Hong Kong exchanges as Asian markets remain volatile...

Woodford pain continues as report suggests deal to sell private biotech stakes falls through

Private biotech companies held by funds formerly managed by Neil Woodford haven’t rid themselves of the debacle that led to the star British investor’s demise. According to a report in The Times that did not...

Flagship adds asset-centric strategy to get more from its platform technologies

Flagship Pioneering, whose investment strategy has always been blue-sky platform plays or bust, has decided to embrace single-assets. The change is more of an evolution than a revolution though, as the idea is to draw...

Skyrizi’s the limit? AbbVie forecasts blockbuster year for psoriasis drug

In newly released guidance Friday, AbbVie projected $1.2 billion in 2020 sales of Skyrizi after the drug far surpassed sales expectations in its first several months on the market. Sales of Skyrizi risankizumab-rzaa climbed to...

Forbion leads Azafaros’ €25M series A, with rare disease vet as chair

With a €25 million ($27.7 million) series A commitment, an investor syndicate led by Forbion believes Dutch start-up Azafaros can develop a dual inhibitor of glycometabolic processes to treat lysosomal storage disorders, particularly those with...

Schrödinger, Beam are latest to post gains after pricing larger-than-expected IPOs

A pair of biotechs posted double-digit gains Thursday after upsizing their offerings and pricing at or above expectations, suggesting a sustained investor appetite for new biotech listings. Schrödinger Inc. (NASDAQ:SDGR) gained $11.64 (68%) to $28.64...