Biotechs that could enter the IPO queue as crossovers await liquidity

The door may be reopening soon for biotech IPOs, with signs of life appearing after a very slow 18 months for new listings. Dozens of companies that were laying the groundwork for offerings before the window slammed shut are still watching and waiting for an opportunity that may arise in the coming months.

BioCentury analyzed a set of biotechs that raised private venture rounds of $75 million or more during 2020 and 2021, with at least two crossover investors participating. Among them are companies that are readying to test the waters, should the markets prove receptive, as their few peers that have gone public this year have provided early evidence of what investor appetite may look like...