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Massachusetts Biotech Sees Record Year for IPOs
July 2, 2018
It’s been a pretty good year for mergers and acquisitions in the biopharma industry, with Takeda Pharmaceutical buying Shire for $62.2 billion, and the year starting with Sanofi buying Bioverativfor $11.6 billion and then Ablynx for $4.8 billion. Celgene acquired Juno Therapeutics for $9 billion, shortly after buying Impact Biomedicines for $1.1 billion.
But the landscape for initial public offerings (IPOs) has been excellent as well, particularly in Massachusetts, which has recorded 13 IPOs since the beginning of the year, raising a combined $1.3 billion. This exceeds by money raised the record in 2014, when 17 Massachusetts biotechs raised $1.2 billion, and the year’s only half over. And there are three biotech companies in Massachusetts that have filed to go public, but hadn’t done so yet. One of those includes Rubius Therapeutics.
The list of Massachusetts biotech companies with IPOs so far this year is listed below.
#1. Cue BioPharma. Headquartered in Cambridge, Mass., Cue focuses on injectable biologics engineered to modulate the immune system to treat cancer, chronic infectious diseases and autoimmune disorders. Its IPO on January 2 raised $66 million.
#2. Unum Therapeutics. Also based in Cambridge, Unum is also working in the immuno-oncology space, developing therapies based on an antibody-coupled T cell receptor. It is differentiated from CAR-T or TCR by not being restricted to a particular target and may have applications in a broad range of cancer types. The company’s IPO raised $69 million on March 29.
#3. Scholar Rock. Of course, based in Cambridge, Scholar Rock is focused on the biology of growth factor activation, targeting growth factors in the disease microenvironment. This has applications in neuromuscular disorders, cancer, fibrosis, and anemia. It raised $75 million on May 24.
See the Rest of the List at the Source: Record Year So Far for Massachusetts Biotech IPOs | BioSpace
By: Mark Terry
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