Shares in Adaptive Biotechnologies, backed by Microsoft, Celgene, Illumina, LabCorp and BD Biosciences, soared more than 100% on its first day of trading.

Adaptive Biotechnologies, a US-based drug discovery technology developer backed by multiple corporate investors, went public yesterday in a $300m initial public offering.

The company sold 15 million shares priced at $20 each, above its targeted range of $18 to $19, valuing it at more than $2.4bn. Its shares more than doubled in price on its first day of trading on the Nasdaq Global Select Market to close at $40.30.

Founded in 2009 as Adaptive TCR, Adaptive Bio has developed…

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
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