Seattle biotech firm Silverback Therapeutics sets terms for IPO, looks to raise up to $151M

Laura Shawver, CEO of Silverback Therapeutics. (Silverback Photo)

Silverback Therapeutics plans to raise up to $151.8 million in its initial public offering, the Seattle-based company said Monday in an updated IPO filing.

The biotech firm will aim to sell 6.95 million shares at $17 to $19 per share. It would be valued at $566 million at the midpoint of the proposed stock price range.

Founded in 2016, Silverback uses a proprietary technology platform called ImmunoTAC to develop therapies that target specific areas of disease in a way designed to avoid damaging healthy tissue. Its lead product candidate, designated SBT6050, uses monoclonal antibodies to target breast, gastric and lung cancers. It’s currently in Phase 1/1b clinical trials, according to its IPO filing.

Silverback raised $210 million in venture capital over its lifetime as a private company, including an $85 million round in September, led by EcoR1 Capital; and a $78.5 million

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French drugmaker Sanofi has just invested $59 million in biotech investor Jeito Capital to fund innovation in the biopharma pipeline



logo: FILE PHOTO: Sanofi logo is seen in Paris Reuters


© Reuters
FILE PHOTO: Sanofi logo is seen in Paris Reuters

  • Sanofi, one of the world’s biggest pharmaceutical companies, has invested €50 million in new French-based VC Jeito Capital.
  • Jeito CEO Rafaèle Tordjman, managing director of innovation at Jeito Capital, spoke with Business Insider about how the fund plans to invest the money.
  • Jeito’s first fund has already invested in two companies, with plans to invest in a further 4-5 in the next year.
  • Visit Business Insider’s homepage for more stories.

France’s Sanofi, one of the world’s biggest pharmaceutical companies, has invested €50 million ($59 million) in venture capital firm Jeito Capital, Jeito CEO Rafaèle Tordjman said on Friday.

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Jeito Capital, a Paris-based venture capital firm, plans to invest in biopharma and biotech companies across all different funding stages. Sanofi is the world’s fifth-largest drugmaker by prescription sales. Its better known over-the-counter brands include anti-acid products such as

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