Arie Bellde­grun and David Chang score record IPO, now they plan to win the race to a his­toric FDA OK

Arie Bellde­grun and David Chang are once again in the race of a life­time — and they plan to stay in the lead to the first pi­o­neer­ing FDA OK in the field.

The two ex-Kite ex­ecs have pulled off the biggest biotech IPO of their gen­er­a­tion, up­siz­ing the of­fer­ing to 18 mil­lion shares and pric­ing at $18 a share — the top of the range.

The Al­lo­gene of­fer­ing brought in $324 mil­lion, peg­ging the mar­ket val­ue of the com­pa­ny at $2.2 bil­lion, and un­der­writ­ers will soon have a chance to boost that some more. That sum edges out Ax­o­vant, which raised $315 mil­lion in 2015 to back an Alzheimer’s drug that turned out to be a com­plete bust.

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