Silverback Therapeutics prices IPO at $21/share, will raise $241M in 4th Wash. state IPO of 2020

SIlverback Therapeutics CEO Laura Shawver. (Silverback Photo)

Silverback Therapeutics will raise $241.5 million as the Seattle biotech company goes public Friday.

Silverback priced its IPO on Thursday evening at $21 per share, which exceeded the high end of its expected range ($17 to $19). The company is selling 11.5 million shares.

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 will be the fourth Washington state company to go public this year, following health tech startup Accolade, marketing startup ZoomInfo, and Athira Pharma, another Seattle-based biotech company that went public in September.

A record number of biotech companies are going public

Read More

Certara Seeks $500 Million U.S. IPO

Certara (CERT) and selling shareholders intend to raise an estimated $500 million in an IPO of its common stock, according to an S-1 registration statement.

Princeton, New Jersey-based Certara was founded to develop biosimulation software to assist biopharmaceutical companies in conducting virtual trials to predict how drugs might behave in patients.

Management is headed by William Feehery, Ph.D, who has been with the firm since June 2019 and was previously president of DuPont Industrial Biosciences

Below is a brief overview video of Certara:

Source: Certara

The firm’s primary markets include:

  • Biosimulation
  • Regulatory Science
  • Market Access

Certara has received at least $510 million from investors including EQT AB and Arsenal Investors.

The company pursues biopharmaceutical firms via a direct sales and marketing approach and had more 1,600 biopharma companies and academic institutions in 60 countries as customers as of the end of 2019.

Additionally, numerous regulatory authorities are customers, including the

Read More

PubMatic Aims For $100 Million IPO

PubMatic (PUBM) intends to raise $100 million from the sale of its Class A common stock in an IPO, according to an amended registration statement.

Redwood City, California-based PubMatic was founded to enable real-time programmatic advertising transactions via its specialized purpose-built advertising database and delivery infrastructure.

The system exists to help publishers and application developers monetize their advertising placement inventory in an efficient and reliable manner across different devices and platforms.

Management is headed by co-founder and CEO Rajeev Goel, who was previously product marketing director at SAP AG (SAP).

Below is a brief overview video of PubMatic:

Source: PubMatic

The firm provides a sell side advertising infrastructure platform within the digital advertising ecosystem, as shown in the graphic below:

pubmaticoffering

In addition, PubMatic has integrated its system with demand side platforms such as The Trade Desk (TTD) and Google DV360 (GOOG).

PubMatic has received at least $96 million from investors

Read More

Airbnb aims for $35 billion valuation in long-awaited IPO

(Reuters) – Airbnb Inc said on Tuesday it is aiming for a valuation of up to $34.8 billion in its initial public offering (IPO), in what would cap a stunning recovery in its fortunes after the U.S. home rental firm’s business was heavily damaged by the COVID-19 pandemic earlier this year.

FILE PHOTO: The Airbnb logo is seen on a little mini pyramid under the glass Pyramid of the Louvre museum in Paris, France, March 12, 2019. REUTERS/Charles Platiau/File Photo

In a regulatory filing, Airbnb set a target price range of between $44 and $50 apiece to sell 51.9 million shares, which would pull in $2.6 billion. Airbnb could end up selling $2.85 billion at the upper end of the range.

Of the shares being sold, Airbnb founders Brian Chesky, Joe Gebbia and Nathan Blecharczyk will together sell nearly $100 million worth of shares in the IPO launch.

Airbnb struggled

Read More

Sigilon Therapeutics Proposes Terms For $101 Million IPO

Sigilon Therapeutics (SGTX) has filed to raise $101 million from the sale of its common stock in an IPO, according to an amended registration statement.

Cambridge, Massachusetts-based Sigilon was founded to develop its Shielded Living Therapeutics platform which uses advanced techniques to create therapeutic molecules for the treatment of rare blood disorders, lysosomal storage diseases and endocrine diseases.

Management is headed by Rogerio Vivaldi Coelho, MD., who has been with the firm since 2018 and was previously EVP and Chief Global Therapeutics Officer at Bioverativ until it was acquired by Sanofi in 2018.

Below is a brief overview video of Sigilon’s approach:

Source: Alliance for Regenerative Medicine

The firm’s lead candidate, SIG-001, is being developed to treat patients with Hemophilia A.

The potential advantage of the drug is that it would avoid life-long repeat intravenous administrations in favor of being ‘administered intraperitoneally..[with] each dose to have a duration of three

Read More

Airbnb Seeks Valuation Up To $35 Bn In IPO Filing

Airbnb is seeking to raise some $2.6 billion in its upcoming share offering, which could give the home-sharing giant a valuation as high as $35 billion, an updated regulatory filing showed Tuesday.

The California group said its initial public offering would include some 51.9 million shares in a range of $44 to $50.

The latest filing appeared to confirm an upbeat outlook for Airbnb, which has claimed its home-sharing model has proved resilient during the global coronavirus pandemic with travelers seeking safer lodgings and avoiding crowded hotels.

Airbnb offered no date for the start of trading, which is expected sometime this month under the trading symbol ABNB.

The company may still update its offering price, but at current levels the valuation would be as much as $35 billion including restricted stock and options. The IPO would raise between $2.1 billion and $2.6 billion at the current range.

Airbnb moved closer to a stock market debut with an updated filing seeking a valuation up to $35 billion Airbnb moved closer

Read More

Seer Readies $150 Million IPO Plan

Seer (SEER) has filed to raise $150 million from the sale of its Class A common stock in an IPO, according to an amended registration statement.

Redwood City, California-based Seer was founded to develop instruments to analyze proteins for basic research and discovery.

Management is headed by co-founder and CEO Omid Farokhzad, M.D., who was previously Professor at Harvard Medical School and co-founded BIND Therapeutics, Selecta Biosciences and Tarveda Therapeutics.

Below is a brief overview video of proteomics research:

Source: Sensu Film

The firm is developing what it calls the Proteograph Product Suite, ‘which will leverage our proprietary engineered nanoparticle [NP] technology to provide unbiased, deep, rapid and large-scale access across the proteome.’

Investors in the firm have invested at least $167 million and include Maverick Capital, Invus Public Equities, aMoon Fund, Fidelity, Emerson Collective and T. Rowe Price.

According to a 2016 market research report by Grand View Research,

Read More

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

Read More

Enterprise AI software maker C3.ai sets terms for $504 million IPO

C3.ai, which provides a SaaS platform for deploying enterprise AI applications, announced terms for its IPO on Monday.

The Redwood City, CA-based company plans to raise $504 million by offering 15.5 million shares at a price range of $31 to $34. Insider BlackRock and new investor Capital Research Global Investors intend to purchase a combined 20% of shares in the offering. Koch Industries and Microsoft intend to purchase a combined $150 million in a concurrent private placement. At the midpoint of the proposed range, C3.ai would command a fully diluted market value of $4.3 billion.

The company provides SaaS applications that enable the rapid deployment of enterprise-scale AI applications on Azure, AWS, the IBM Cloud, Google Cloud Platform, or on-premise. Its two primary families of software solutions include the C3 AI Suite, which is a comprehensive application development and runtime environment that is designed to allow its customers to

Read More

Jowell Global Seeks U.S. IPO For Expansion Plans

Jowell Global Ltd. (JWEL) aims to raise $26 million in an IPO of its common stock, according to an F-1 registration statement.

Shanghai, China-based Jowell was founded to develop a membership-based online platform to sell products directly to consumers as well as facilitate third parties to operate their own online stores.

Management is headed by Chairman and CEO Mr. Zhiwei Xu, who has been with the firm since 2019 and has served at Chairman of Jiangsu Longrich Group and Shanghai Juhao Information Technology Co, a subsidiary of the company.

The company’s primary offerings include:

  • Online Direct Sales
  • Authorized Retail Store Distribution
  • Third-party Merchants
  • Live streaming marketing

Jowell has received at least $4.2 million from investors.

The company pursues customers via online search optimization and marketing efforts.

In addition, the firm advertises via outdoor media and cooperative advertising arrangements with some of its vendors.

Marketing expenses as a percentage of total

Read More