The Pfizer and Ipsen-backed metabolic disorder drug developer floated above its range and saw its share price rise more than 75% on its first day of trading.

Novo and Nan Fung Life Sciences are among the investors as Harmony Biosciences, which focuses on central nervous system disorders.

SR One, where the cancer drug developer was incubated, joined fellow corporate venturing units AbbVie Ventures, Pfizer Ventures and Takeda Ventures for a $47.6m round.

The firm, launched in May by WuXi Healthcare Ventures and Frontline BioVentures, is looking to raise $450m for its first US fund, according to a regulatory filing.

Palleon Pharmaceuticals has launched with $47.6m in series A funding to commercialise cancer therapies based on technology developed at Stanford and Dundee universities.

GE Healthcare has agreed to be the anchor investor in the $200m Rx Healthcare Fund, which will back companies that can help improve healthcare in Africa.