Post-IPO Equity Funded Biotechnology Startups
The 50 most recent post-IPO equity raises in biotechnology span August 18 to October 26, 2022, and range sharply in size — from Mydecine Innovations Group'…
The 50 most recent post-IPO equity raises in biotechnology span August 18 to October 26, 2022, and range sharply in size — from Mydecine Innovations Group's $250K raise to Vaxcyte's $600M round closed October 26 in Foster City, California. Cambridge, Massachusetts is the densest single cluster, with eight companies closing rounds there: Relay Therapeutics ($300M, Sep 12), Amylyx Pharmaceuticals ($246M, Oct 6), Akero Therapeutics ($200M, Sep 14), and Kymera Therapeutics ($150M, Aug 19) among them. San Francisco contributed three raises, including Denali Therapeutics ($275M, Oct 19) and Dice Therapeutics ($345M, Oct 17).
Outside the US, the dataset includes companies from Canada (five entries spanning Vancouver, Calgary, and Quebec), Switzerland (VectivBio, NLS Pharma, Kuros Biosciences), Germany (immatics biotechnologies, $110M), and single entries from Australia, Israel, India, France, Sweden, Finland, and the UK. Fourteen companies raised $100M or more while nineteen of the 50 closed rounds under $10M, reflecting the wide spectrum of capital needs across public biotech balance sheets.
Most recent rounds
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Frequently asked
What are the largest post-IPO equity rounds in this dataset?
The five largest rounds are Vaxcyte at $600M (Oct 26, Foster City), Dice Therapeutics at $345M (Oct 17, San Francisco), Biohaven Pharmaceutical at $302M (Oct 20, New Haven), Relay Therapeutics at $300M (Sep 12, Cambridge), and Denali Therapeutics at $275M (Oct 19, San Francisco). Amylyx Pharmaceuticals ($246M, Oct 6), SpringWorks Therapeutics ($225M, Sep 7), and Akero Therapeutics ($200M, Sep 14) round out the top eight.
Where are most of these post-IPO biotech companies headquartered?
Cambridge, Massachusetts has the highest concentration, with eight companies in this set — Relay Therapeutics, Amylyx Pharmaceuticals, Akero Therapeutics, Kymera Therapeutics, Spero Therapeutics, Axcella, InVivo Therapeutics, and Sarepta Therapeutics. California has the broadest geographic spread, with thirteen companies across Foster City, San Francisco, South San Francisco, Rancho Cordova, Los Angeles, Laguna Hills, Pacific Palisades, Loma Linda, Emeryville, Hayward, and Oceanside.
How wide is the range of round sizes among post-IPO biotech equity raises?
Extremely wide: Vaxcyte raised $600M while Mydecine Innovations Group closed a $250K raise within the same dataset. Fourteen companies raised $100M or more, but nineteen of the 50 rounds came in under $10M — including Thermogenesis ($2M, Rancho Cordova), Charlotte's Web ($4M, Denver), and Algernon Pharmaceuticals ($1M, Delta, Ontario).
How much international activity appears in post-IPO biotech equity raises?
A significant portion of the 50 companies are headquartered outside the United States. Canada accounts for five — Xortx Therapeutics (Calgary), Neptune Wellness Solutions (Quebec), InMed Pharmaceuticals and Mydecine Innovations Group (Vancouver), and Algernon Pharmaceuticals (Delta, Ontario). Switzerland has three entries (VectivBio in Basel, NLS Pharma in Stans, Kuros Biosciences in Schlieren), and individual companies appear from Germany, the UK, France, Australia, Israel, India, Sweden, and Finland.
Which therapeutic focus areas are most represented among these raises?
Immunology and oncology companies feature prominently: immatics biotechnologies ($110M, Tübingen), Immunic Therapeutics ($60M), Immunovant ($75M), Alpine Immune Sciences ($100M, Seattle), IDEAYA Biosciences ($80M, South San Francisco), and Relay Therapeutics ($300M, Cambridge) all closed rounds between August and October 2022. Gene therapy is another recurring theme, with Taysha Gene Therapies ($50M, Dallas), Rocket Pharmaceuticals ($100M, Cranbury), and Benitec Ltd ($18M, Hayward) each raising in this window. Rare-disease-focused firms Edgewise Therapeutics ($138M, Boulder) and Larimar Therapeutics ($70M, Bala Cynwyd) also appear.
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