The immuno-oncology therapy developer's investors include UC’s office of the chief investment officer, which contributed to a $300m round in January.

US-based cancer drug developer Allogene Therapeutics has filed for a $100m initial public offering that will enable University of California (UC)’s office of the chief investment officer to exit. Allogene is working on genetically engineered allogeneic T cell medicines designed to kill cancer cells. The therapies will be based on cells taken from healthy donors, meaning patients can theoretically be treated more easily and more quickly. The IPO proceeds will be used to fund clinical trials for the company’s product candidates being developed to treat acute lymphoblastic leukaemia, non-Hodgkin lymphoma and multiple melanoma. Allogene formally launched in April 2018 with $300m in series A funding from investors including UC and pharmaceutical firm Pfizer, which supplied $35m along with 16 preclinical assets and one clinical asset the corporate had licensed, according to the IPO filing. The Rise Fund, an impact investment fund backed by private equity group TPG, invested $135m in the round while Gilead and venture capital firm Vida Ventures each supplied $50m. BellCo Capital also took part in the April round, which was followed by $120m convertible note offering led by hedge fund sponsor Perceptive Advisors earlier this month. The latest round also included UC, Fidelity Management and Research, Franklin Templeton Investments, Jennison Associates, Surveyor Capital, Deerfield Management, VenBio Select Advisor and funds and accounts advised by T. Rowe Price. Pfizer owns a 24.6% stake in the company, just behind the 25.1% held by The Rise Fund. Allogene’s other notable investors are Seaview Trust (8.9%), Gilead and Vida Ventures (8.4% each). Goldman Sachs, JP Morgan Securities, Jefferies and Cowen and Company are joint book-running managers for the IPO, which is expected to take place on the Nasdaq Global Select Market. – A version of this article first appeared on our sister site, Global Corporate Venturing.  

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