Iterum should soon find out if it has an approvable asset in the antibiotic sulopenem, but even if the group succeeds it still has a hard road ahead.
Biotech IPOs raised a huge $2.3bn on Western exchanges in the second-quarter of 2018, as private companies rushed to market ahead of the summer lull.
The trend for VCs to pile in to bigger, later rounds might just be weakening.