Biotechnology is among the hottest industries in the world at the moment. The kind of work they have been doing has attracted the attention of investors from all over the world. In a fresh development, it has now emerged that four promising biotechnology companies could have their initial public offering (IPO) in the United States.
The four companies in question have filed their papers with the United States Securities and Exchange Commission and soon they are going to have their much-anticipated listing. The companies in question are Bicycle Therapeutics, Peloton Therapeutics, Karuna Pharmaceuticals, and IDEAYA Biosciences.
Bicycle and Peloton
Bicycle is a therapeutics company that is based out of Cambridge in the United Kingdom and Boston in Massachusetts and it filed its papers for the IPO back on April 26. The name of the company is derived from its flagship product platform, known as bicyclic peptides and Bicycle has had its fair share of clinical trials to warrant an IPO. The company is looking to raise a total of $86 million in the IPO.
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On the other hand, Peloton Therapeutics is involved in producing drugs for renal cell carcinoma and has a lead product named PT 2977 lined up as well. The company, which has its offices in Dallas and San Francisco, is seeking a total valuation of $115 million in its IPO. It is interesting to note that the company’s Series E funding that amounted to $150 million was oversubscribed.
IDEAYA and Karuna
IDEAYA is involved in precision oncology and has licensed technology from French pharmaceutical giant Novartis. The collaboration seems to have paid off handsomely for the company as its product IDE 196, which is currently going through clinical trials, was unveiled by Novartis at the American Association of Cancer Research. In its filing IDEAYA is looking for a valuation of $70 million in the IPO.
Last but not the least; Karuna Pharmaceuticals’ IPO is also going to be an interesting one. The company’s flagship drug, KarXT which is meant for treating acute psychosis, is going to have the results from its clinical trial later on this year. However, the details of its IPO are not available. That being said, it is important to note that the Boston based company has powerful backers and has raised a total of $122 million in two phases so far.