Y-mAbs’ story comes into the light: a shipping tycoon, the MSK researcher, a partial hold and a $92M IPO gamble
Y-mAbs Therapeutics always had an intriguing story. It just never did much about telling it — until now.
On Friday, the biotech filed for a $92 million IPO, and skated through what we already knew: Back-to-back venture rounds had recently pumped $80 million into the company, which is run by a group of ex-Genmab execs with rights to two key cancer drugs — naxitamab and burtamab — that target GD2 and B7-H3.
In the process, though, the biotech also unveiled some interesting facts about its wealthy backer, a partial FDA hold and the very personal tale of an endangered child whose treatment at Memorial Sloan Kettering years ago helped inspire a startup.
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