An $880m buyout by Lilly shows that some gene therapy companies have not yet priced themselves out of the market.
A look at biotech’s most valued upartnered assets sees new entries from Allakos and some Covid-19 projects.
The company becomes the third in two months to buy back a division it had spun out just a few years earlier.
Curevac’s market cap has ballooned almost fivefold since floating, sending the mRNA company into the record books.
With a $3.2bn valuation ahead of its Nasdaq float – and a market cap that is now 50% higher – Legend Biotech enters the IPO record books.
Private drug developers raised less last year than in 2018, but cash remains plentiful and mega rounds abound.