The Lundbeck and Novo-backed cancer therapy developer priced its shares at the bottom of their range in an upsized offering.
Denmark-headquartered oncology drug developer IO Biotech raised $100m on Friday in an upsized initial public offering representing an exit for pharmaceutical firms Novo and Lundbeck.
The company increased the number of shares in the offering from 6.5 million to 7.15 million and priced them at the foot of the IPO’s $14 to $17 range. Its shares closed at $15.65 on the Nasdaq Global Market on Friday, giving it a market capitalisation of $413m.
IO Biotech is working on immune-modulating therapeutics…
