Initial public offerings by European biotech companies were hot in September, and companies developing technologies including sequencing and bioinformatics received big private and public investments.
Last month, European and Israeli biotech companies raised over €1.5B in 42 deals, which included initial public offerings (IPOs) and private financing rounds. This was more than triple the total catch in August, which saw €466.8M raised in 26 deals.
Roughly half of the cash — €782.4M — came from four IPOs. The star position went to the UK sequencing heavyweight Oxford Nanopore Technologies, which took home €407.4M (£330M) from its listing on the London Stock Exchange. A Nasdaq IPO worth €302.6M ($350M) flushed compatriot firm Exscientia with cash to scale up its artificial intelligence (AI)-assisted drug discovery technology.
IPOs in European stock markets also went to Afyren and Genetic Analysis, which respectively are developing sustainable chemicals manufacturing and diagnostics based on the microbiome.
Leading the private fundraisers, the French pharmaceutical firm Provepharm Life Solutions topped up its bank account with €122.9M in equity investments.