Briefing

Montreal cancer-treatment maker plans to raise at least US$100 million and list on the Nasdaq

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Repare Therapeutics is reportedly within days of disclosing its plans to go public. (The Globe and Mail)

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Talking point: Repare would be the first Canadian biotech company to list on the Nasdaq in a year. Its potential success comes on the heels of Vancouver-based biotech firm AbCellera, which raised US$105 million earlier this week. Repare raised US$82.5 million in September 2019 to create drugs targeting cancerous tumours. The firm is now looking to get into human clinical trials by the summer. Listing on the Nasdaq is typical for early-stage drug developers, but Repare’s move would come despite a number of Canadian institutional investors seeking to get into biotech. In November 2019, for example, the Business Development Bank of Canada spun out a fund looking to raise $200 million to invest in the sector.