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Big Biotech IPOs Are Back

September 21, 2023
x min read

Biotech IPOs have been few and far between of late.

However, that might be changing.

What’s happening:

  • RayzeBio (NASDAQ: RYZB) went public, raising $311M USD
  • Neumora Therapeutics (NASDAQ: NMRA) began trading, raising $250M USD

Why it matters:

  • RayzeBio has a Phase III clincal trial for their radiopharmaceutical therapy for treating neuroendocrine tumors
  • Neumora has a very promising Phase III clinical trial for a new therapeutic to treat Major Depressive Disorder
  • Neumora boasts a long list of notable and sophisticated biotech backers, including Christian Angermayer, ARCH Venture Partners and SoftBank
  • Biotech IPOs have been extremely quiet, so these large new public listings show some renewed momentum in the public markets for drug discovery

By the numbers:

  • In 2021, there were a record breaking 111 new biotech IPOs
  • In 2022, those numbers were significantly down with just 22 new IPOs for biotechs
  • So far in 2023, there have been 16 IPOs for biotech and pharmaceutical companies

The intrigue:

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