Johns Hopkins University's oncology therapy developer NexImmune has filed to raise up to $86.3m in an IPO on the Nasdaq Global Market.
NexImmune, a US-based cancer immunotherapy developer based on Johns Hopkins University reserach, filed for an $86.3m initial public offering on the Nasdaq Global Market on Tuesday that would give pharmaceutical firms Pfizer and Amgen the chance to exit.
NexImmune is working on immunotherapies based on a nanotechnology platform that are intended to leverage nanoparticles that function as synthetic dendritic cells in order to locate and activate natural T cells to fight off cancer cells.
The IPO proceeds will fund an ongoing phase 1/2 clinical trial for a drug candidate called NEXI-001 in acute myeloid leukaemia and a phase 1/2 trial for a second candidate dubbed NEXI-002 in multiple myeloma.
The company also intends to channel cash into process development and manufacturing activities as it moves its lead candidates toward future registrational trials, in addition to bolstering protein and nanoparticle manufacturing capabilities for its preclinical pipeline.
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