Carrying on through the crisis

Dear reader

The Nasdaq Biotech Index has fallen 23% over the past 12 months, and has been moving sideways since June. However, the ongoing crisis should not lead to the assumption that there is no Swiss start-up activity on the stock exchanges. This week we published two Nasdaq-related reports: VectivBio, which is already listed on Nasdaq, has raised USD 125 million. The funds will be used for the clinical development and pre-commercialisation activities for its lead product candidate, which is in phase 3 clinical trials.

Oculis wants to be listed in New York in the first half of the year: the biotech company is planning a merger with a SPAC that is already listed on the tech exchange. The transaction and an equity investment are expected to raise more than USD 200 million for Oculis.

Pfizer has made a USD 35 million equity investment in Anokion and is also supporting the biotech company with its development expertise and capabilities. Anokion’s lead candidate for the treatment of individuals with coeliac disease has successfully completed its first clinical trials.

And even bigger numbers at MedAlliance: founded in 2008, the medtech company that developed drug-eluting balloons as a better alternative to drug-eluting stents is being taken over by Cordis. The US medtech group is willing to pay up to USD 1.1 billion for the acquisition.

In addition to the life sciences companies, fintech start-ups provided some good news. Compass, Italy’s third largest consumer credit lender, joined the buy now, pay later provider HeidiPay as a minority shareholder. Vestr secured a CHF 10 million investment and CHF 3.8 million went to the i2 Group. The strength of Switzerland in this vertical is underlined by the 10 new Venture Leaders, which will present themselves in a virtual kick-off session on 2 November.

Two transactions also took place in the HR environment: aspaara secured an investment of CHF 2 million and People-Analytix was acquired by British HR tech company Learning Pool.

We will be present at several events next week: SEF.Growth’s KMU Innovation Event, StartupForum Aargau, the MassChallenge Award Ceremony and the final of the GreenTech Startup Battle at Swiss Digital Days. Don’t miss the deadline for both the Circular Economy Incubator and Prix Strategis on 30 October.

Startup Nights takes place in the first week of November in Winterthur. We will also be there and my colleague Ritah Nyakato will lead a panel on B2B sales.

Have a good weekend
Stefan Kyora

Editor in Chief, Startupticker.ch