Pre­clin­i­cal can­cer biotech IGM Bio­sciences sets stage for up­sized $175M IPO

Flush with cash from a $102 mil­lion round in Ju­ly, pre­clin­i­cal biotech IGM Bio­sciences and its en­riched squad of can­cer-fo­cused an­ti­bod­ies are scur­ry­ing on­to an up­sized Nas­daq de­but.

The Moun­tain View, Cal­i­for­nia-based com­pa­ny in Au­gust un­veiled plans for a $100 mil­lion IPO — on Tues­day it dis­closed it had raised $175 mil­lion by sell­ing about 10.9 mil­lion shares for $16/share. It will be­gin trad­ing un­der the sym­bol “IGMS” on Wednes­day.

The biotech­nol­o­gy com­pa­ny’s ar­se­nal of ther­a­pies-in-de­vel­op­ment are based on en­gi­neered IgM an­ti­bod­ies to com­bat can­cer — carv­ing it­self a niche from the swathes of drug­mak­ers who have har­nessed the po­ten­tial of IgG an­ti­bod­ies to de­vel­op on­col­o­gy treat­ments.

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