July 19 Quick Takes: Argenx raises $1.1B on Vyvgart data 

Argenx SE (Euronext:ARGX; NASDAQ:ARGX) parlayed Phase III data from Vyvgart efgartigimod to treat chronic inflammatory demyelinating polyneuropathy (CIDP) into a $1.1 billion financing consisting of a U.S.-based offering and a Europe-based private placement. In the U.S., the company sold 1.6 million shares at $490, a discount of 3% to Tuesday’s close of $506.52, just before the offering was announced. In Europe, the company sold 664,000 shares at €436.37 ($490.64), a price nearly equal to Monday’s close of €437.60; the company did not trade on Euronext on Tuesday. The Vyvgart data raised the drug’s prospects of becoming a blockbuster; additional readouts are expected in the third and fourth quarter of this year. On Wednesday, Argenx’s shares rose $21.96 to $528.48 on NASDAQ and €31.50 to €469.10 on Euronext. 

Surge Therapeutics Inc. raised a $32 million series B round to advance its intraoperative immunotherapy hydrogel, which is in Phase I/IIa testing to improve post-resection outcomes in patients with recurrent bladder cancer. The comapny said the study will generate proof-of-concept event-free survival data. Bioluminescence Ventures led the financing, with participation from KdT Ventures, Piedmont Capital, 8VC, Alumni Ventures, Camford Capital, Cancer Research Institute, Intuitive Ventures, Khosla Ventures and Pitango HealthTech. Bioluminescence Ventures’ Kouki Harasaki will join Surge’s board in connection with the financing. ...