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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