Takeda, Merck & Co, Ipsen and Merck Group all scored exits as the immuno-oncology drug developer floated at the bottom of its IPO range.
Xilio Therapeutics, a US-based cancer immunotherapy developer backed by pharmaceutical firms Takeda, Merck & Co, Ipsen and Merck Group, floated on Friday in an initial public offering sized at almost $118m.
The company issued approximately 7.35 million shares on the Nasdaq Global Market priced at the foot of the offering’s $16 to $18 range. They opened at $15.00 on Friday and closed at the IPO price of $16.00, giving it a market capitalisation of nearly $429m.
Joint book-running managers Morgan…
