Biopharma companies’ willingness to go public appears to be making a tentative reversal after a long drought. Just this week, GLP-1 developer Kailera Therapeutics and proteomics company Alamar Biosciences launched IPO roadshows at valuations of $1.9 billion and 1.1 billion, respectively. The real driver behind this resurgence, according to investors, is the M&A market. “It’s been a torrid pace linked to the patent cliff,” said Nimish Shah, partner at Venrock Healthcare Capital Partners. Large pharmaceutical companies are anticipating many of their most profitable drugs will fall off patent in the coming years and are taking aggressive acquisitive strategies to backfill their pipelines.
Read the full article: Biotech IPOs Poised for a Comeback—but Only for Some //
Source: https://pitchbook.com/news/articles/biotech-ipos-poised-for-a-comeback-but-only-for-some