Fresh from $102M haul, IGM Bio pitches $100M IPO as it plots first-in-human trial of new antibodies
IGM Biosciences is the latest preclinical biotech to shoot for a Nasdaq listing, pitching a $100 million IPO on its unique class of cancer-fighting antibodies.
Just as much as its technology and clinical plans the SEC filing offers a window into the biotech’s little known history, highlighting the role that a Danish chemical company played.
The company now known as IGM Biosciences — with headquarters in Mountain View, CA — was first born in 1993 with the name of Palingen, it wrote. It had been focused on researching naturally occurring IgM antibodies until 2010, when Haldor Topsøe Holdings came in with an equity investment spurring a name change and a pivot to engineering new antibodies that harness IgM’s 10 binding domains, compared to 2 for traditional IgG.
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