The Vancouver- and Seattle-based firm is merging with immunotherapy developer Aduro Biotech as part of its bid to go public. The combined firm will have US$200 million in cash. (The Globe and Mail)
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The Vancouver- and Seattle-based firm is merging with immunotherapy developer Aduro Biotech as part of its bid to go public. The combined firm will have US$200 million in cash. (The Globe and Mail)
Talking point: This is the second Candian biotech firm to announce plans to list on the Nasdaq in recent days. On Friday, Montreal-based Repare Therapeutics said it would go public in a US$100-million IPO. The two firms are the latest examples of Canada’s burgeoning biotech sector. In 2019, firms in the sector raised a record $921 million in venture capital. While early success is becoming increasingly common in Canada, so is looking to foreign capital for further growth. In addition to this week’s two U.S. IPOs, last year Clementia Pharmaceuticals and BlueRock Therapeutics both sold to foreign firms at valuations of over US$1 billion each.
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