Novo and Celgene will retain shares in the cancer therapy developer, which floated at the upper end of its range and which now has a $600m market cap.
Cyteir Therapeutics, a US-based oncology therapeutics developer backed by pharmaceutical firms Novo and Celgene, floated on Friday in a $133m initial public offering on the Nasdaq Global Select Market.
The company priced 7.4 million shares at $18 each, at the upper end of the $16 to $18 range it had initially set. Its shares closed on $17.40 on its first day of trading, indicating a market capitalisation of approximately $600m.
Founded in 2012, Cyteir is developing small molecule therapies intended…
