AnaptysBio, a US-based biotechnology company backed by pharmaceutical firm Novo, filed for an initial public offering on Nasdaq on Wednesday that could raise up to $86.3m.
Founded in 2005, AnaptysBio is developing antibodies to be used in inflammation and immuno-oncology treatments. Its two lead candidates are ANB019, being developed to treat rare inflammatory diseases, and ANB020, which will combat adult asthma and severe adult peanut allergy.
The IPO proceeds are expected to fund the advancement of ANB019 and ANB020 through clinical trials in 2016, and to support the development of other candidates from AnaptysBio’s pipeline.
AnaptysBio has raised $89m in funding, most recently closing a $40m round in July 2015 featuring Novo, BioMed Ventures, which acts as biotech real estate company Biomed Realty’s corporate venturing arm, BVF Partners, Cormorant Asset Management, Frazier Healthcare, HBM Healthcare Investments and Longwood Capital Partners.
Novo also led AnaptysBio’s $34m series B round in 2007, which also featured Frazier Healthcare, Alloy Ventures, Numenor Ventures and WS Investment Company.
Novo is the company’s second largest shareholder, with a 21.3% stake. Other notable shareholders include Frazier Healthcare (23.2%), Avalon Ventures (15.2%), Alloy (9.1%), Biotechnology Value Fund (7.2%) and HBM (6.7%).
BMO Capital Markets and Stifel have been appointed joint book-running managers for the offering, while JMP Securities and Wedbush PacGrow are serving as co-managers.