Magenta Therapeutics unveils plans to raise $100M in IPO weeks after a crossover round
Just weeks after bagging $52 million from venture capitalists in a crossover round, Cambridge, MA darling Magenta Therapeutics has declared intentions to list on the Nasdaq in an IPO angling at $100 million.
According to a statement filed with the SEC, the cash will be used to push forward Magenta’s most advanced clinical program: a cell therapy called MGTA- 456. The drug, currently in Phase II trials, is being tested in patients with inherited metabolic disorders. Magenta says new IPO money would push the treatment through a pivotal trial, pay for some commercialization activities, and also fund research into additional indications for the therapy, such as sickle cell disease and blood cancers.
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.