Flotation

Underwriters have exercised their over-allotment option in full, increasing the University of Pennsylvania-linked genetic medicine developer’s proceeds by $32.4m.

The UC Santa Barbara-founded semiconductor technology producer has gone public through a reverse merger with penny stock company Peninsula Acquisition and received $21.5m from investors including Marelli.

Chinese Academy of Sciences and its VC subsidiary TCL Capital are in line to exit the artificial intelligence chip producer, which was valued at $2.5bn as of 2018.

University of Pennsylvania-linked Passage Bio issued 4.6 million more shares than originally planned to raise $216m, up more than 70% on its $125m original target.

The precision cancer therapy developer, based on research from several universities, floated at the top of an upsized range and saw its price continue to rise post-IPO.

The genomic drug developer, spun out of Harvard University, has completed its initial public offering, boosting its size from $180m to $207m.

Genomic medicine developer Beam will raise $180m in a upsized initial public offering three years after being spun out of Harvard University.

University of Pennsylvania-linked CNS disorder-focused drug developer Passage Bio has filed to raise up to $125m having raised $226m in funding.