Four IPOs and a SPAC pitch a new slate of microbiome, cancer and inflammatory drugs to Wall Street

Biotech IPOs are still coming in all sorts of flavors these days.

Just look at what’s on the menu from Friday: There’s Finch Therapeutics, which needs the money to complete a second pivotal trial and start plotting commercialization of its microbiome-based products; Connect Biopharma, a Chinese outfit going through mid-stage studies in T cell-driven inflammatory diseases; Instil Bio, whose team is trying to ride a compassionate use program with their autologous tumor infiltrating lymphocytes straight into Phase II; Transcode Therapeutics, an under-the-radar cancer therapy developer leveraging multiple RNA modalities; and then there’s a SPAC — Foresite Capital’s third.