Nas­daq pa­rade march­es on as ex-Gen­mab crew at Y-mAbs reaps $96M

The sto­ry that Y-mAbs told for the first time in its IPO fil­ing has earned the can­cer biotech an up­sized $92 mil­lion raise to pow­er a slate of tri­als for its two lead drugs.

Run by a group of ex-Gen­mab ex­ecs be­tween New York City and Den­mark, Y-mAbs traces part of its roots to Memo­r­i­al Sloan Ket­ter­ing, from which it li­censed naxi­ta­mab and om­bur­tam­ab. These two drugs were key in the treat­ment of founder Thomas Gad’s daugh­ter — first when she was di­ag­nosed with high risk neu­rob­las­toma at age 2 and then when she re­lapsed. The 13-year-old is now dis­ease-free.

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