Novartis, Eli Lilly and Amgen-backed cancer immunotherapy developer Surface Oncology has filed for a $75m offering on Nasdaq.
Surface Oncology, a US-based immuno-oncology drug developer backed by pharmaceutical firms Eli Lilly, Amgen and Novartis, has filed to raise up to $75m in an initial public offering.
Surface is working on therapeutics that will treat cancer by targeting the immunosuppressive tumour microenvironment. The IPO proceeds will support a phase 1 clinical trial for its lead drug candidate, SRF231, and more general research and development.
Novartis owns a 16% stake in Surface through its Novartis Institutes for Biomedical Research…
