From Public To Private, Crossover Investors Are Back In Biotech
Armed with cash from a robust M&A and a stock market boom, mutual and hedge funds are eagerly crossing over into mezzanine rounds for private biotechs and playing key roles in some of the year’s biggest venture financings.
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Ophthotech, OncoMed, and bluebird bio are three of the dozens of biotechs that have made public debuts this year. Here’s how they did it, and the decisions they made to take advantage of being in the right place at the right time.
This biotech envisions a day when messenger RNA therapeutics enable a patient’s body to produce needed proteins in vivo, thereby vastly expanding the universe of druggable targets and bypassing all of the patented large-molecule drugs that are the industry’s foundation.
The private obesity company will do a mezzanine venture financing that brings in at least one public-oriented investor before it heads, presumably, toward an IPO. That round is slated to close in a month or so. Around the same time, Zafgen will present final Phase II data for its beloranib.