The immuno-oncology drug developer, spun out of Johannes Gutenberg University Mainz, has filed for a $100m offering in the US.
Biontech, a Germany-based cancer immunotherapy developer spun out of Johannes Gutenberg University Mainz, has filed for a $100m initial public offering on the Nasdaq Global Select Market.
The filing comes after reports in March this year that the company would target $800m in a forthcoming IPO but it is yet to set a price range.
Biontech is working on the development of individualised immunotherapies to treat cancer and potentially other diseases.
Part of the IPO proceeds will fund clinical trials for three drug candidates respectively addressing advanced melanoma, breast cancer and HPV-related head and neck cancer.
Additional funds will support research and development for three more candidates, which are being developed in partnership with pharmaceutical firm Sanofi and biotech producers Genentech and Genmab respectively. It also plans to advance additional candidates through phase 1 trials.
Investment and financial services group Fidelity Management & Research…
