Ital­ian can­cer gene ther­a­py biotech makes his­to­ry with mod­est Nas­daq IPO

Af­ter years of de­vel­op­ing its gene ther­a­py for can­cer on the out­skirts of biotech, Genen­ta has land­ed on Nas­daq as the first Ital­ian biotech on the Amer­i­can ex­change.

Genen­ta’s IPO is small com­pared to what you usu­al­ly see these days, but the $36 mil­lion — or $40 mil­lion if all op­tions are ex­er­cised — in gross pro­ceeds will al­low Pier­lui­gi Parac­chi’s crew to take its cur­rent proof-of-con­cept tri­al to fruition and pave the way to Phase II, fund long-term mon­i­tor­ing of pa­tients, pay for pre­clin­i­cal re­search and man­u­fac­tur­ing, while leav­ing enough mon­ey to run the ac­tu­al Phase II tri­al slat­ed to start in 2023 (the busi­ness de­vel­op­ment and ad­min team al­so gets some).

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER