Healthcare-focused investment bank Leerink Swann has won a co-lead role advising the planned up to $86.25m flotation of cancer treatment company Tesaro, after the bank backed the company last year.
Other advisers on the initial public offering are banks Citigroup, Morgan Stanley, the two of which are also co-leads, as well as BMO Capital Markets and Baird, according to Tesaro’s filing with the Securities and Exchange Commission on Friday.
Other shareholders include Frost Gamma Investments, an investment manager.
Tesaro is pre-revenue and made a loss of $16.4m last year.
US-based Leerink Swann joined the consortium investing $101m in the series B round of Tesaro last year. Venture capital firm Kleiner Perkins Caufield & Byers (9.5% stake held at present) led that B round, and was joined by US-based fund manager T Rowe Price and venture firms New Enterprise Associates (50.3%), InterWest Partners (12.7%), Pappas Ventures, Oracle Partners and Deerfield Management.
The company has raised $62.1m in fundraisings, according to its initial public offering filing.