4 years ago

Immunocore Raises $273 Million in Upsized IPO on NASDAQ

  • UK-based biotech firm Immunocore has successfully priced its upsized initial public offering (IPO) on NASDAQ, raising a total of $273 million

  • The offering, which exceeded initial expectations, saw the company offer 9.9 million American Depositary Shares at $26 per share

  • This follows a recent Series C funding round where Immunocore secured $75 million and a $100 million senior secured loan facility

  • The funds raised will support the potential commercial launch of tebentafusp, Immunocore's lead therapeutic candidate for metastatic uveal melanoma, currently in Phase 3 clinical trials.

      • ProblemHealthcare

      "Cancer is a leading cause of death worldwide, and many types of cancer are difficult to treat effectively. Current treatments often have severe side effects and can be ineffective for certain types of cancer. Immunocore is trying to solve the problem of finding new and effective treatments for cancer, particularly for cancers that are resistant to current therapies."

      Solution

      "Immunocore is developing a new class of immunotherapies called ImmTAX (Immune mobilizing monoclonal TCRs Against X disease). These therapies are designed to target specific proteins on cancer cells and activate the patient's own immune system to attack and destroy the cancer cells. Immunocore's lead product, tebentafusp, is currently in Phase 3 clinical trials for the treatment of metastatic uveal melanoma, a type of cancer that is often resistant to other therapies."

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