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Public Company Edition: CARGO Therapeutics grossed $281.3m, giving it the fifth-largest biopharma IPO this year. Also, Alkermes completed its cancer business spinout as Mural Oncology, which launched with $275m, and Xencor sold Ultomiris and Monjuvi royalties for $215m.
Private Company Edition: Iambic, formerly known as Entos, closed a $100m series B venture capital round to advance its AI-discovered therapeutics. Also, Evozyne raised $81m and Acesion brought in €45m in series B rounds, while Mogrify added $10m to bring its series A to $46m.
As the usual flurry of deals coincides with the J.P. Morgan Healthcare Conference, AbbVie signed an mRNA pact with Anima and a cancer research tie-up with Immunome.
German pharma takes global rights to preclinical bispecific antibody, while Surrozen will focus on Phase I candidates for inflammatory bowel disease and alcoholic hepatitis.
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