The Eli Lilly-backed antibody discovery platform developer's shares opened at more than three times their IPO price to net it a valuation topping $15bn.
Canada-based antibody drug developer AbCellera floated on the Nasdaq Global Select Market on Friday in a $483m initial public offering representing an exit for pharmaceutical firm Eli Lilly.
The company priced just over 24.1 million shares, upsized from 23 million, at $20.00 each, above the $17 to $18 range it set for the offering. Its shares opened at $61.00 on Friday and closed at $58.90 to give it a valuation of almost $15.7bn.
AbCellera has created an artificial intelligence-powered antibody…
