Structure Therapeutics announced positive clinical results for its obesity drug, and then raised $476 million via an offering of its ADSs. Meanwhile, Alphamab Oncology announced a deal with ArriVent BioPharma.
Key Takeaways: Cancer treatment maker ProfoundBio announced it will be purchased by Denmark’s Genmab for $1.8 billion The deal is the fourth acquisition of a China-related innovative drugmaker by a foreign company in the last four months By Doug Young
South Korea’s AriBio out-licensed China rights for AR1001, an Alzheimer’s disease candidate, in an agreement worth up to $770 million. The company acquiring the asset asked to remain anonymous because of the competition for Alzheimer’s drugs.
Health-care services provider BrightSpring, which is backed by private equity firm KKR, priced its initial public offering at $13, below a marketed range of $15 to $18 per share, before opening on Friday a dollar below that IPO price.
ArriVent BioPharma priced its upsized Nasdaq IPO at $18 dollars per share, raising $175 million. The company’s stated goal is to find promising novel assets from China and other countries, which it aims to bring to the US market.
