Silverback files to go public, potentially adding to this year's record-high biotech IPO raise
The signs were there: A couple of months ago, Silverback Therapeutics quickly pulled in $163 million in two back-to-back rounds for what CEO Laura Shawver called “an important growth phase.” As expected, the Seattle-based biotech turned in its S-1 on Tuesday seeking a $100 million IPO.
Silverback could be one of more than 72 biotech and biopharma companies to hit Wall Street this year, contributing to a record raise of over $13 billion. Many upsized their offers, and if Silverback follows suit, it could stand to raise much more than its $100 million bid. A couple of weeks ago, Nasdaq head of healthcare listings Jordan Saxe pegged a “fair estimate” of 75 debuts and just under $14 billion in proceeds to round out the year.
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