Argos Therapeutics, backed by corporate-backed venture investor Genechem, has filed to raise $86m in a flotation on Nasdaq.
The largest shareholders in the company, with at least a 5% stake, were venture firms Aurora Funds, Intersouth Partners, Lumira Capital, Coöperatieve AAC, TVM V Life Science Ventures as well as Canadian bank Caisse de dépôt et placement du Québec, Argos’ Securities and Exchange Commission filing said.
The initial public offering is being underwritten by Lazard Capital Markets, Canaccord Genuity, Needham & Company, and BMO Capital Markets.
Other backers of the company have previously included GeneChem, which was set up by BioChem Pharma, now Shire Pharmaceuticals, Mizuho Capital, an investment unit of the Japanese bank, ABN Amro Ventures, a unit of the Dutch bank bought by Royal Bank of Scotland, Sanders Morris Harris, an investment advisor, as well as venture investors Morningside Group, Japan Asia Investment Company, Forbion Capital Partners, Aurora Capital, Oakwood Medical Investors, Pacific Horizon Partners, SHV Ventures and TFG Venture Capital.
Argos has raised $88.9m from venture investments as well as $32.9m from the licensing of its technology, and $71.5m from government contracts, grants and license and collaboration agreements, between May 1997 through March 31, 2011, the filing said.
Last year the company posted a loss of $9.2m and it said in the filing it was a development stage company.