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2 Biotech Cos. Raise $111M Combined In Low-Priced IPOs

Law360 (May 23, 2019, 5:42 PM EDT) -- Two venture-backed biotechnology firms developing cancer therapies went public Thursday after raising a combined $111 million in initial public offerings that priced at the bottom of or below their projected ranges during a choppy period for stocks.

U.K. oncology company Bicycle Therapeutics Ltd., advised by Goodwin Procter LLP, raised $61 million after selling 4.3 million shares at $14 each, representing the bottom of its range of $14 to $16.

South San Francisco-based drug developer Ideaya Biosciences Inc., advised by Latham & Watkins LLP, raised $50 million after selling 5 million shares at $10 each, below the company’s forecasted range of $13...

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