After a drought of more than a year, the European gene therapy sector saw initial public offerings from Genenta Science and Genflow Biosciences. The firms aim to shine as biotech stocks elsewhere perform poorly.
Until recently, European gene therapy companies were going through a dry spell in terms of launching initial public offerings (IPO). The last major European gene therapy IPO came from the UK firm Freeline Therapeutics in late 2020. Another UK player, Gyroscope Therapeutics, came close in 2021 but the event was canceled and the company was instead acquired by Novartis.
The Italian firm Genenta Science and the UK company Genflow Biosciences make up a fresh wave of European gene therapy players going public. Genenta bagged €31.4M ($36M) in its Nasdaq debut in December 2021 and Genflow Biosciences listed on the London Stock Exchange this week, raising around €4.4M (£3.7M) in the process.
One factor driving the general reluctance to go public is the continuing volatility of biotech stock markets around the world.
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