EbeneInfo – CA – Antibody Therapy Developer AbCellera Files For IPO – Daily Times

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Peter Thiel-backed biotech developer AbCellera Biologics Inc, which has partnered with Eli Lilly for its COVID-19 antibody, filed Friday for an IPO on the Nasdaq listing plan of the Canadian firm comes at a time of strong demand for new biotech stocks, with nearly half of U.S. IPOs in 2020 coming from the healthcare sector, according to data from IPOScoop AbCellera said its figure business had grown to $ 11.6 million in 2019, from $ 8 million a year earlier Its net loss for the year was $ 2.2 million, from a profit of $ 309,000 in 2018 Reuters reported in September that AbCellera had hired investment banks for an IPO in the United States and may seek to raise between $ 200 million and $ 300 million Earlier on Friday, Canada granted provisional authorization for Eli Lilly’s antibody drug for the treatment of COVID-19 in patients who are not hospitalized but who are at risk of serious illness due to their age or other conditions AbCellera has filed for an IPO for up to $ 200 million, a reserved amount that is expected to change It plans to list its common stock on the Nasdaq Global Market under the symbol « ABCL » The company , which also includes Bill & The Melinda Gates Foundation and healthcare-focused buyout firm OrbiMed Advisors LLC among its investors said Credit Suisse, Stifel, Berenberg, SVB Leerink and BMO Capital Market are the main underwriters of the IPO

Antibodies, Eli Lilly and Company, Monoclonal Antibody Therapy, Coronavirus, IPO, United Regional Health Care

EbeneInfo – CA – Antibody therapy developer AbCellera files for IPO – Daily Times

Source: https://dailytimes.com.pk/692078/antibody-therapy-developer-abcellera-files-for-ipo/

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