Relay Therapeutics prices IPO at $400M
The company, whose drug-discovery efforts are focused on protein motion and detection of interactions that occur anywhere on a protein rather than only at active sites, filed to go public last month.
The company, whose drug-discovery efforts are focused on protein motion and detection of interactions that occur anywhere on a protein rather than only at active sites, filed to go public last month.
The company, which combines computational technology with biology and chemistry to uncover new drug targets, has a drug in clinical development and plans to start clinical studies of another one later this year.
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
The company was founded to develop base editing, a form of gene editing that alters genes at the single-letter level rather than using the "cutting" technique typical of CRISPR/Cas9. Beam had filed to go public in September, aiming at raising $100 million.
The company, officially launched in 2018 after operating in stealth mode for a year, is developing technologies to enable genome editing at the single-letter level, as opposed to the "cutting" of DNA and RNA normally used in CRISPR/Cas9.
Starting on Saturday, the exchange is instituting a discount on its annual listing fee for pre-revenue companies, capping it at $100,000 per year over three years. While the policy applies across industries, it is an effort to draw biotech companies that would usually list on the Nasdaq.
NextCure, Milestone Pharmaceuticals, Cortexyme and Axcella Health all said Wednesday that they would begin trading on the Nasdaq Thursday.
The company, which had previously sought to use a legal but potentially risky workaround, expects to raise $276 million.
The "immuno-neurology" company expects to raise $176 million in the offering, which it expects to close on Monday.
It was reported earlier this week in The Wall Street Journal that, while an IPO without the SEC signing off is allowed with a certain workaround, it is carries legal and regulatory risks.
The report, by law firm WSGR, noted an almost twofold increase in life sciences IPOs - especially biotech - and a greater number priced at $250 million or more.
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The company's Form S-1 filing comes less than two months after it completed a $70 million Series C financing.
A roundup of some of the biggest trends and events in pharmaceuticals, biotechnology and diagnostics in 2018, including regulatory approvals, international trends, national policy and more.
The offering closes on Tuesday and follows a string of very large IPOs by biotech companies over the last couple of months. Moderna's February $500 million Series G round valued the company at $7 billion.
Bloomberg had reported in February that the biotechnology startup company was considering a $500 million fund raise for a listing in Hong Kong, but reconsidered due to market conditions.
The Boston-based company said it would not pursue a planned IPO, citing "market conditions." Nasdaq had agreed to its listing on Tuesday.