The Swiss major should have a considerable first-to-market advantage over other IL-17 biologics from the likes of UCB and Acelyrin that are also targeting the hidradenitis suppurativa space.

The US Food and Drug Administration has published a report after an inspection of UCB’s Belgian facility where Bimzelx is manufactured and the findings suggest that a long-awaited approval for the psoriasis drug should not be taken for granted.

The US biotech intends to use the proceeds from its upcoming IPO to advance lead candidate izokibep, an interleukin-17A inhibitor that is showing potential as a treatment for hidradenitis suppurativa.

Public Company Edition: With the XBI up more than 9% in April, a few follow-on offerings –$23m to support Gamida Cell’s small product launch and $500m to fund Vaxcyte’s large clinical trial program – have made it to market. Also, China’s CytoMed launched the sixth biopharma IPO in the US this year.