Harvard spinout TScan Therapeutics has successfully listed on the Nasdaq Global Market.
TScan Therapeutics, the US-based cancer immunotherapy developer spun out of Harvard University, secured $100m in its initial public offering on Friday.
The company issued almost 6.7 million shares on the Nasdaq Global Market priced at $15 each, having set a range of $15 to $17 for 6.3 million shares. It is listed under the ticker symbol TCRX.
Founded in 2018, TScan is working on engineered T cell therapies aimed at treating patients with cancer. Its TargetScan discovery platform identifies the natural targets of T cell receptors (TCRs), while its ReceptorScan platform can identify TCRs capable of recognising clinically validated targets.
The company will use about $30m of the IPO proceeds to fund the phase 1/2 clinical development of drug candidates TSC-100, TSC-101 and TSC-102, which are being developed for liquid tumour-related conditions.
TScan will also use approximately $35m for investigational new drug application activities and…
