Mer­sana scores a $75M IPO as Wall Street con­tin­ues to em­brace biotech

The mar­ket’s em­brace of new biotech list­ings is hold­ing strong.

Mer­sana Ther­a­peu­tics was the lat­est to cross the IPO line, rais­ing $75 mil­lion af­ter sell­ing 5 mil­lion shares at $15 — the mid­dle of the range it set for it­self. And the Cam­bridge, MA-based biotech can add sub­stan­tial­ly to that, if un­der­writ­ers pick up an ad­di­tion­al 750,000 ad­di­tion­al shares $MRSN.

The biotech — helmed by the high pro­file biotech vet and for­mer Mil­len­ni­um chief An­na Pro­topa­pas — boasts a new and dif­fer­ent kind of link­er tech that is de­signed to cre­ate new clus­ter bombs that can be aimed at can­cer. If they’re right, the com­pa­ny hopes to tack­le a va­ri­ety of goals, in­clud­ing go­ing af­ter can­cer with on­ly a light ex­pres­sion of HER2.

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