Adaptimmune, a spin-out of Oxford University developing immunotherapy treatments targeted against cancer, has raised $191.3m in its IPO.
Trading on Nasdaq under the ticker ADAP, the firm placed 11,250,000 at $17 per share. The firm blew out its original target of $175.7m during the offering.
Formed in 2008, the company is using genetically engineered T-cells to treat cancer and other infectious diseases. Adaptimmune has collaboration agreements in place with pharmaceutical firm GlaxoSmithKline, and raised $104m last year in a series A led by New Enterprise Associates and joined in participation by OrbiMed Advisors, Wellington Management Company, Fidelity Biosciences, Foresite Capital Management, Ridgeback Capital Management, Novo A/S, QVT, Rock Springs Capital, venBio Select, and Merlin Nexus.
The IPO is the latest in a number of high profile immunotherapy exits over the past year. Juno Therapeutics raised $280m in its IPO at the end of 2014, which also saw University of California Los Angeles spin-out Kite Pharma raise $140m in its float.
