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LONDON – Bergenbio A/S raised NOK187.5 million (US$24 million) in a private placement of new shares, lengthening the cash runway as it awaits data from six ongoing phase II cancer trials and enabling the company to extend the applications of its Axl kinase inhibitor bemcentinib (BGB-324) to the treatment of fibrotic disorders.

DUBLIN – Veteran German antibody developer Morphosys AG swelled the ranks of European biotech firms on Nasdaq by grossing $207.8 million from an offering of 8.3 million American depositary shares, which it priced at $25.04 per share. If exercised, an overallotment option comprising 1.245 million shares would add another $37.35 million to the proceeds. Shares in the Martinsried-based firm began trading today under the ticker symbol MOR, and quickly went into positive territory, reaching $26.47 at one point and ending the day at $26.31.

U.S. financial markets

Surface Oncology Inc. picked a day when the U.S. financial markets were flowing solid red to price its upsized IPO of 7.2 million common shares at $15 apiece – the high end of its proposed range – and raise $108 million. The Cambridge, Mass.-based company added $11.5 million in a concurrent private placement of 766,666 additional shares to Novartis Institutes for Biomedical Research Inc. at the IPO price. A 30-day option to underwriters to purchase up to 1.08 million additional common shares could add $16.2 million to Surface's haul.

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