With a pipeline from Gern­gross’ Adimab, Ar­sa­nis hunts a $58M IPO for an­ti­body de­vel­op­ment work

Af­ter burn­ing through slight­ly more than $81 mil­lion, a biotech co-found­ed by Adimab’s Till­man Gern­gross has pen­cilled in a $57.5 mil­lion raise from an IPO de­signed to get its mid-stage pneu­mo­nia fight­ing an­ti­body through Phase II and down the road to a po­ten­tial ap­proval.

Ar­sa­nis got its pipeline, in­clud­ing its lead pro­gram for ASN100 and pre­clin­i­cal RSV an­ti­bod­ies, from Gern­gross’ Adimab, along with cash from a broad syn­di­cate of in­vestors, a loan from Sil­i­con Val­ley Bank and a grant-plus-in­vest­ment from the Gates Foun­da­tion.

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