GlobeImmune, a healthcare company backed by pharmaceutical groups Celgene and Eli Lilly, has filed to raise $69m in its floatation.
The company is looking to list on NASDAQ under the symbol “GBIM”. GlobeImmune is developing treatment for cancer and infectious diseases using “Tarmogens”.
Its product stimulates cellular immunity, known as T cell immunity, as opposed to normal vaccines which largely stimulate antibody production.
The company’s largest shareholder is US-based pharmaceutical group Celgene (a 16.1% stake), while pharmaceutical group Eli Lilly’s corporate venturing unit Lilly Ventures (6.5%) is also an investor. The company is also backed by venture firms Healthcare Ventures (14.1%), Morgenthaler Partners (14.3%),Wexford-Kappa Investors (9.4%), Sequel Limited (9.2%), and Medica Venture Partners (6.4%).
The company made $5.1m of revenue and a loss of $13.7m in 2011.
The company has received of $161.1m in its history. Just under two thirds, or $108.2m was raised in venture capital. The company also raised $5.9m from notes, as well as $31m from a collaboration deal with Celgene, and $10m from a collaboration deal with pharmaceutical group Gilead. The company has also received $5.5m in grants and had cash of $10.7m on March 31.
The initial public offering is advised by Wells Fargo, Piper Jaffray and JMP Securities.