The Eli Lilly-backed antibody drug developer has added $73m to its initial public offering, and its shares are still trading at more than double the IPO price.
AbCellera, a Canada-based antibody therapy developer backed by pharmaceutical firm Eli Lilly, closed its initial public offering at approximately $556m on Wednesday.
Founded in 2012, AbCellera analyses the human immune system to locate and identify antibodies that could be made into drug treatments. It is collaborating with Eli Lilly on a possible antibody-based treatment for covid-19.
The company issued a little over 24.1 million shares on the Nasdaq Global Select Market priced at $20 each last Friday to…
