Artiva Biotherapeutics, a US-based immunotherapy developer backed by pharmaceutical group GC, has filed for a $100m initial public offering on the Nasdaq Global Market.
Founded in 2019, Artiva is working on cell-based cancer therapies. Its lead drug candidate, AB-101, helps the body produce natural killer (NK) cells that destroy cancer and tumour cells.
The proceeds of the offering will go toward the research and development of AB-101, as well as AB-201 and AB-202, which are chimeric antigen receptor NK cell drug candidates focusing on leukaemia and breast cancer therapies respectively.
Entities affiliated with GC (also known as Green Cross Holding Corporation) are Artiva’s largest shareholder, with a 28% stake, followed by 5AM Ventures VI, VenBio Global Strategic Fund III and vehicles for RA Capital Management, the last three holding 15.3% each.
GC and its drug development unit GC LabCell backed the company’s $120m series B round, which was led by venture capital firm Venrock’s Healthcare Capital Partners unit last month.
The series B round was filled out by 5AM Ventures, Acuta Capital Partners, Cormorant Asset Management, EcoR1 Capital, Franklin Templeton, Janus Henderson Investors, Logos Capital, RA Capital Management, RTW Investments, Surveyor Capital, VenBio Partners and Wellington Management Company.
5AM Ventures, VenBio Partners and RA Capital had co-led a $78m series A round for Artiva nine months earlier, investing alongside GC, its GC LabCell subsidiary and Medivate Partners.
The lead underwriters for the offering are Cowen, Evercore ISI and Goldman Sachs, while Wedbush Securities has also been appointed an underwriter.
