Today's typical biotech tour may not include a swing through the lab — because there isn’t one. Chief executives now brag about the cost savings and flexibility of outsourcing everything from the design of a new drug to supervision of clinical trials to eventual manufacturing.
“The only lab equipment we have here is the sink in the restroom,” says Tom Hughes, chief executive of Zafgen.
Raising money is a huge part of being a CEO, but nothing can fully prepare you for the experience of taking your company public. Read More
Not quite halfway through 2014 and the biotech industry in Massachusetts has already hit a milestone: a record number of young companies debuting on the big stage on Wall Street.
Zafgen Inc. has completed its initial public offering amid strong demand from investors. The Cambridge biotech firm increased the size of the offering and sold shares at the top of its projected range on Wednesday, raising a total of $96 million. The IPO is the 10th by a Massachusetts-based biotech firm so far this year, topping the tally from last year of nine and setting a new record.
Zafgen Inc. has taken another step toward its planned initial public offering, disclosing a projected share range that could raise up to $92 million for the company.