Alphabet and Celgene are among the investors facing a delayed exit from Rapt Therapeutics, which has postponed an initial public offering that would have raised up to $80m.
Rapt Therapeutics, a US-based small molecule drug developer backed by internet and technology conglomerate Alphabet and pharmaceutical firm Celgene, decided on Friday to postpone its initial public offering.
The company set its price range at $14 to $16 less than two weeks ago and hoped to issue 5 million shares on the Nasdaq Global Market to raise between $70m and $80m.
Rapt is working on small molecule drugs that it hopes will boost a patient’s immune response to cancer…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
