IPOs and Funding Rounds Keep Local Biotechs Busy

Local biotechs have been busy this spring raising funds through highly successful IPOs and funding rounds. Boston-based Talaris Therapeutics’ IPO, which closed on May 11, raised approximately $150 million for the company. Known as Regenerex at its founding in 2002, Talaris, is a late-clinical stage cell therapy company developing an innovative method of allogeneic hematopoietic stem cell transplantation for solid organ transplantation, certain severe autoimmune diseases, and certain severe non-malignant blood, immune and metabolic disorders.

Verve Therapeutics’ IPO, which closed on June 21, raised approximately $307 million. The Cambridge-based genetic medicines company, which launched in May of 2019, is pioneering a new approach to the care of cardiovascular disease, transforming treatment from chronic management to single-course gene editing medicines. Verve’s initial two programs target PCSK9 and ANGPTL3, genes that have been extensively validated as targets for lowering blood lipids such as low-density lipoprotein cholesterol, a root cause of cardiovascular disease.

Nuvalent, also based in Cambridge, has completed a $135 million Series B financing to advance its portfolio of novel, precisely targeted kinase inhibitors for treatment-resistant cancers. Proceeds from the financing round will support the clinical advancement of the company’s parallel lead programs, NVL-520, a potential best-in-class ROS1-selective kinase inhibitor, and NVL-655, a potential best-in-class ALK-selective kinase inhibitor. The financing is also expected to support further expansion and accelerated development of Nuvalent’s discovery research pipeline of novel, selective small molecule kinase inhibitors. (Sources: Talaris Therapeutics Website, 11 May, 2021; Verve Therapeutics Website, 21 June, 2021; Nuvalent Website, 11 May, 2021)