Codiak – based on research at Gothenburg and MD Anderson Cancer Center – has succeeded in going public after previously cancelling plans.
US-based exosome therapeutics developer Codiak Biosciences has gone public in an $82.5m initial public offering offering an exit to University of Texas System.
The company is issuing 5.5 million shares on the Nasdaq Global Market priced at $15 each, in the middle of the offering’s $14 to $16 range. It had previously filed for an IPO in May 2019, but cancelled those plans within two months.
Codiak is developing medicines to treat diseases with high unmet medical need, including cancer, by using extracellular cell vesicles known as exosomes as intercellular drug delivery vehicles.
The approach is based on research conducted at the VentureLabs unit of Flagship Pioneering, by Jan Lotvall, chairman of Krefting Research Centre at University of Gothenburg, and by Raghu Kalluri, chairman and professor of the Department of Cancer Biology and director of the Metastasis Research Center at University of Texas MD Anderson…
