UChicago spinout Pyxis Oncology is aiming to raise more than $153m in its initial public offering, having set a price range of $14 to $16.
Pyxis Oncology, a US-based cancer therapy developer spun out of University of Chicago (UChicago), set the price range for its proposed IPO at $14 to $16 yesterday.
The spinout plans to issue 8.34 million shares on the Nasdaq Global Market to list under the ticker symbol PYXS. At the lower end, Pyxis would generate nearly $117m in proceeds, rising to more than $133m at the top end and as much as $153m including the greenshoe option.
Founded in 2018, Pyxis is working on antibody-drug conjugates (ADCs) and immunotherapies for cancers that are difficult to treat.
Its underlying research was conducted by Thomas Gajewski, the AbbVie Foundation professor of pathology at UChicago. Gajewski co-founded Pyxis with John Flavin, who was at the time the associate vice-president of entrepreneurship and innovation at UChicago.
Proceeds from the offering would go towards the preclinical development of the spinout’s three programmes and, should…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
