After a promising start to the year, the biotech IPO market picked up steam again late this summer, with notable offerings from companies like Upstream, Septerna and BioAge. But what does this mean for the sector? Is market enthusiasm truly returning, or are we just seeing a temporary rebound?

To unpack these questions and look ahead to 2025, Fierce Biotech’s James Waldron chatted with Adam Farlow, Global Chair of Baker McKenzie’s Capital Markets Practice Group.  

To learn more about the topics in this episode: 
Septerna's $288M IPO is another sign of the market warming to biotech investment
BioAge brings in almost $200M from IPO as obesity biotech joins Nasdaq
Upstream swells IPO to $255M as it prepares to join Nasdaq along with CAMP4
Kairos goes public with $6M IPO to fund trials of lead cancer drug

After a promising start to the year, the biotech IPO market picked up steam again late this summer, with notable offerings from companies like Upstream, Septerna and BioAge. But what does this mean for the sector? Is market enthusiasm truly returning, or are we just seeing a temporary rebound?
To unpack these questions and look ahead to 2025, Fierce Biotech’s James Waldron chatted with Adam Farlow, Global Chair of Baker McKenzie’s Capital Markets Practice Group.  
To learn more about the topics in this episode: 
<ul>
<li><a href="https://www.fiercebiotech.com/biotech/septernas-288m-ipo-another-sign-market-warming-biotech-investment">Septerna's $288M IPO is another sign of the market warming to biotech investment</a></li>
<li><a href="https://www.fiercebiotech.com/biotech/bioage-brings-almost-200m-ipo-obesity-biotech-joins-nasdaq">BioAge brings in almost $200M from IPO as obesity biotech joins Nasdaq</a></li>
<li><a href="https://www.fiercebiotech.com/biotech/upstream-swells-ipo-255m-it-prepares-join-nasdaq-along-camp4">Upstream swells IPO to $255M as it prepares to join Nasdaq along with CAMP4</a></li>
<li><a href="https://www.fiercebiotech.com/biotech/kairos-goes-public-6m-ipo-fund-trials-lead-cancer-drug">Kairos goes public with $6M IPO to fund trials of lead cancer drug</a></li>
</ul>

Biopharma and medtech explained. Every week, journalists from Fierce Biotech, Fierce Medtech, and Fierce Pharma recount the latest industry trends and why they matter. We'll analyze the week's biggest business news, from mergers and marketing to drug R&D and device development. Available every Friday morning. 

Biopharma and medtech explained. Every week, journalists from Fierce Biotech, Fierce Medtech, and Fierce Pharma recount the latest industry trends and why they matter. We'll analyze the week's biggest business news, from mergers and marketing to drug R&amp;D and device development. Available every Friday morning.&nbsp;

The Top Line

Biopharma and medtech explained. Every week, journalists from Fierce Biotech, Fierce Medtech and Fierce Pharma recount the latest industry trends and why they matter. We’ll analyze the week’s biggest business news—from mergers and marketing to drug R&D and device development. Available every Friday morning.

 

Biopharma and medtech explained. Every week, journalists from Fierce Biotech, Fierce Medtech and Fierce Pharma recount the latest industry trends and why they matter. We&rsquo;ll analyze the week&rsquo;s biggest business news&mdash;from mergers and marketing to drug R&amp;D and device development. Available every Friday morning.
&nbsp;

What can we learn from 2024’s biotech IPOs?    

In this episode of “The Top Line,” recorded on site at Fierce Biotech Week in Boston, Fierce’s Ayla Ellison sits down with Christelle Huguet, Ph.D., executive vice president and head of R&D at Ipsen, to discuss how the company is building its pipeline through external innovation while maintaining internal scientific accountability.

Huguet explains Ipsen’s approach to partnering, describing the company as an “accelerator” that helps move promising science from academic labs and biotech partners toward patients. She also discusses how Ipsen evaluates which programs move forward, why transparency with partners is essential from the start and what the company is watching as it heads into a year with several key clinical and regulatory milestones.

To learn more about the topics in this episode: 
Ipsen unveils data for Botox rival that drove long-acting anti-wrinkle jab into phase 3
Ipsen scuttles liver disease candidates from $952M Albireo acquisition

This week's episode is sponsored by IQVIA

In this episode of &ldquo;The Top Line,&rdquo; recorded on site at Fierce Biotech Week in Boston, Fierce&rsquo;s Ayla Ellison sits down with Christelle Huguet, Ph.D., executive vice president and head of R&amp;D at Ipsen, to discuss how the company is building its pipeline through external innovation while maintaining internal scientific accountability.
Huguet explains Ipsen&rsquo;s approach to partnering, describing the company as an &ldquo;accelerator&rdquo; that helps move promising science from academic labs and biotech partners toward patients. She also discusses how Ipsen evaluates which programs move forward, why transparency with partners is essential from the start and what the company is watching as it heads into a year with several key clinical and regulatory milestones.
To learn more about the topics in this episode:&nbsp;
<ul>
<li><a href="https://www.fiercebiotech.com/biotech/ipsen-posts-data-drove-long-acting-anti-wrinkle-jab-phase-3">Ipsen unveils data for Botox rival that drove long-acting anti-wrinkle jab into phase 3</a></li>
<li><a href="https://www.fiercebiotech.com/biotech/ipsen-scuttles-liver-disease-candidates-952m-albireo-acquisition">Ipsen scuttles liver disease candidates from $952M Albireo acquisition</a></li>
</ul>
This week's episode is sponsored by <a href="https://www.iqviabiotech.com/">IQVIA</a>

Ipsen R&D chief on pipeline discipline, partnerships and 2026 milestones

Marker 01

In this sponsored episode of The Top Line, experts from Myriad Genetics join host Stephanie Butler to examine how tumor-informed molecular residual disease, or MRD, testing is beginning to redefine what early insight can mean in oncology drug development. As biomarker-driven therapies become more precise, the ability to understand response earlier and more clearly is increasingly being viewed as foundational to smarter development strategy.

The discussion looks at how ultrasensitive, tumor-informed MRD assays can help track response over time, potentially surface deeper signals earlier and inform decisions that shape trial design, patient selection and regulatory direction. It also considers why these capabilities may become more important as oncology programs face growing pressure to balance speed, flexibility and evidence generation.

Listeners will hear why early diagnostic strategy is increasingly seen as a competitive differentiator, how MRD can help teams make better decisions sooner and why its role in oncology development is expected to continue to evolve and expand.

In this sponsored episode of The Top Line, experts from Myriad Genetics join host Stephanie Butler to examine how tumor-informed molecular residual disease, or MRD, testing is beginning to redefine what early insight can mean in oncology drug development. As biomarker-driven therapies become more precise, the ability to understand response earlier and more clearly is increasingly being viewed as foundational to smarter development strategy.
The discussion looks at how ultrasensitive, tumor-informed MRD assays can help track response over time, potentially surface deeper signals earlier and inform decisions that shape trial design, patient selection and regulatory direction. It also considers why these capabilities may become more important as oncology programs face growing pressure to balance speed, flexibility and evidence generation.
Listeners will hear why early diagnostic strategy is increasingly seen as a competitive differentiator, how MRD can help teams make better decisions sooner and why its role in oncology development is expected to continue to evolve and expand.

Why MRD is becoming central to oncology drug development (Sponsored)

Each year, the global oncology community flocks to Chicago to convene at the American Society of Clinical Oncology’s annual meeting for a weekend of buzzy data drops, practice-changing posters and insightful sessions.  

In this week’s episode of "The Top Line," Fierce Biotech and Fierce Pharma’s Darren Incorvaia, Zoey Becker and Angus Liu break down the biggest takeaways from their weekend of reporting live from the Windy City. From “nutty” in vivo CAR-T data to a historic first for a Chinese biotech asset, ASCO 2026 reflected new and continuing trends within the evolving state of cancer care today.  

To learn more about the topics in this episode:  


ASCO: Revolution Medicines confident in RAS leadership as rivals square up 


ASCO: Lilly exec points to ‘nutty’ 100% response rate for in vivo CAR-T as justifying Kelonia buyout 


ASCO preview: With expectations jacked up, Akeso's ivonescimab to face scrutiny in high-stakes plenary 

This week's episode is sponsored by IQVIA

Each year, the global oncology community flocks to Chicago to convene at the American Society of Clinical Oncology&rsquo;s annual meeting for a weekend of buzzy data drops, practice-changing posters and insightful sessions.&nbsp;&nbsp;
In this week&rsquo;s episode of "The Top Line," Fierce Biotech and Fierce Pharma&rsquo;s Darren Incorvaia, Zoey Becker and Angus Liu break down the biggest takeaways from their weekend of reporting live from the Windy City. From &ldquo;nutty&rdquo; in vivo CAR-T data to a historic first for a Chinese biotech asset, ASCO 2026 reflected new and continuing trends within the evolving state of cancer care today.&nbsp;&nbsp;
To learn more about the topics in this episode:&nbsp;&nbsp;
<ul>
<li>
<a href="https://www.fiercebiotech.com/biotech/asco-revolution-medicines-confident-ras-leadership-rivals-square">ASCO: Revolution Medicines confident in RAS leadership as rivals square up</a>&nbsp;
</li>
</ul>
<ul>
<li>
<a href="https://www.fiercebiotech.com/biotech/asco-kelonia-keeps-vivo-car-t-momentum-rolling-nutty-100-response-rate">ASCO: Lilly exec points to &lsquo;nutty&rsquo; 100% response rate for in vivo CAR-T as justifying Kelonia buyout</a>&nbsp;
</li>
<li>
<a href="https://www.fiercepharma.com/pharma/asco-preview-expectations-jacked-akeso-ivonescimab-face-scrutiny-high-stakes-plenary">ASCO preview: With expectations jacked up, Akeso's ivonescimab to face scrutiny in high-stakes plenary</a>&nbsp;
</li>
</ul>
This week's episode is sponsored by <a href="https://www.iqviabiotech.com/">IQVIA</a>

What can we learn from 2024’s biotech IPOs?

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