Norovirus sickens hundreds of millions of people around the world each year, causing infections that lead to a range of gastrointestinal problems and dehydration that can become fatal in very young and very old people. There is no norovirus vaccine, but HilleVax is working on what it thinks could be the first. Nine months after it was spun off from Takeda, the young biotech now has $200 million in IPO cash for clinical trials.
HilleVax Originally plan Offering nearly 10.3 million shares priced between $16 and $18 per share.The Boston-based company is over Increase deal size Nearly 11.8 million shares were priced at the midpoint of $17. The shares began trading on the Nasdaq on Friday under the ticker “HLVX.” Despite a dismal IPO market this year, HilleVax shares saw some gains, closing their first trading day at $19.09 a share, up more than 12% from their IPO price.
Although vaccine technology can address a variety of viruses, norovirus has been special challengeThe virus is difficult to grow in the lab, which in turn makes it difficult to measure virus neutralization following infection or vaccination. This limitation makes it difficult to develop vaccines from live viruses that have been attenuated or attenuated, the traditional way of making many vaccines, such as influenza vaccines.
HilleVax’s norovirus vaccine candidate HIL-214 uses virus-like particles (VLPs), self-assembling structures that mimic the features and characteristics of the virus surface without the use of any live virus. By showing the immune system what looks like norovirus, these vaccines are designed to boost an immune response without risking infection. This is because VLPs do not contain viral genetic material and therefore cannot replicate. The technology also has production advantages, as these particles can be produced on a large scale.
VLP vaccines are already on the market. Merck’s Gardasil and GlaxoSmithKline’s Cervarix are both human papillomavirus vaccines, both made from VLPs. The particles are also being tested against other types of viruses, including Covid-19. Icosavax’s novel coronavirus VLP vaccine has entered the clinicalthough the company reports disappointing data candidate a month ago. According to HilleVax’s prospectus, companies seeking a norovirus VLP vaccine include two Chinese companies, China Biotech and Chongqing Zhifei Bio. Icon Genetics and Vaxart are also working on a norovirus vaccine.
HIL-214 was originally developed by LigoCyte Pharmaceuticals, a biotechnology company that Takeda Acquisition $60 million upfront in 2012.Last summer, Takeda and Fraser Healthcare partnered Launch of HilleVax Continue the development of HIL-214. HilleVax has the right to develop and commercialize the vaccine worldwide, except in Japan, where Takeda reserves that right. Takeda said the divestment allowed the pharma giant to focus on vaccines for dengue, Covid-19, the pandemic flu and Zika.
Last September, HilleVax announced plans to go public $135 million in cross financing Fraser led the round. The company remains HilleVax’s largest shareholder with a 22.4 percent post-IPO stake, according to the prospectus. After the IPO, Takeda held an 18.6% stake in HillleVax. HilleVax had $124.5 million in cash at the end of 2021, the filing shows. Adding in the IPO cash, the company said it plans to spend about $125 million on the clinical development of a norovirus vaccine, including manufacturing.
Under Takeda’s leadership, the norovirus VLP vaccine completed a placebo-controlled Phase 2b study enrolling 4,712 adults. The results showed that the vaccine was well tolerated by patients and demonstrated its ability to prevent moderate to severe acute gastroenteritis caused by norovirus infection. The investigational new drug application for the vaccine was transferred from Takeda to HilleVax last September. The biotech said in its prospectus that it plans to begin a Phase 2b study in infants later this quarter. Preliminary data is expected in the second half of next year. The company estimates that its cash will continue to be used for the next two years.
Belite Bio brings $36 million to eye drug clinical trial
Clinical-stage Belite Bio made its public market debut on Friday, raising $36 million for its small pipeline of ophthalmic drugs.Cayman Islands-based Bellett Pricing It issued 6 million American depositary shares at $6 a share, the midpoint of the biotech’s planned range of $5.50 to $6.50 a share. Belite shares began trading on the Nasdaq on Friday under the ticker “BLTE.” Shares closed at $10.59 a share, up 76.5% from their IPO price.
Belite is a subsidiary of Lin BioScience, a public company headquartered in Taiwan.according to Bellett’s vision, Lin Bio formed Belite Bio Holdings in 2016 with a limited liability company called Belite Bio. The unit is responsible for the research and development of two of Lin Bio’s assets, LBS-008 and LBS-009.
LBS-008, also known as Tinlarebant, is Belite’s lead drug candidate. The drug is being developed to treat two eye diseases: the dry form of age-related macular degeneration (AMD), a degeneration of the part of the retina called the macula, and Stargardt disease, a rare genetic disorder in which Fatty substances accumulate on the macula. According to the prospectus, the drug, a small molecule drug based on technology licensed from Columbia University, was transferred to the company by Lin Bio, which remains a major shareholder in the biotechnology. LBS-009 is a preclinical small molecule drug for liver disease.
To date, LBS-008 has been tested in a Phase 1 study in healthy volunteers and an open-label Phase 1b/2 study in Stargardt patients. Belite reported a cash position of $17.4 million at the end of last year. With the new funding, the biotech plans to use the bulk of the funding for further clinical development of the eye drug for dry AMD, with a small amount for a planned pivotal study in Stargardt disease.
Bausch + Lomb plans $788M IPO as standalone company
Eye Care Bausch + Lomb Set financial terms IPO, making it an independent company again, spun off from Doctoral Health. The Vaughan, Ontario-based company plans to issue 35 million shares, priced between $21 and $24 per share, according to the updated prospectus. At a midpoint price of $22.50 per share, the offering would raise nearly $788 million, making it one of the biggest IPOs of the year.
Bausch + Lomb, a brand spanning more than 400 products sold in about 100 countries, initially filed plans for an IPO in JanuaryThe company, which was acquired by Valeant Pharmaceuticals (since renamed Bausch Health) in 2013, may be best known for its contact lens products, but it divides its business into three segments. The Vision Care/Consumer Healthcare segment includes contact lens products. The other two sections are ophthalmic drugs and surgery. According to the prospectus, the three business segments will generate more than $3.7 billion in revenue in 2021, a 10% increase from the previous year. Bausch + Lomb plans to dual-list on the Toronto Stock Exchange and the New York Stock Exchange under the ticker “BLCO.”
Public area picture Centers for Disease Control and Prevention
