The oncology therapy developer has gone public in an upsized offering that provided exits for SoftBank Vision Fund and Alphabet's GV unit.

Relay Therapeutics, a US-based cancer drug developer backed by internet group SoftBank and internet technology conglomerate Alphabet, went public yesterday in a $400m initial public offering.

The company increased the number of shares in the offering from 14.7 million to 20 million and priced the shares at $20.00 each, above the IPO’s $16 to $18 range. Its shares closed at $35.05 on their first day of trading on the Nasdaq Global Market yesterday, valuing it above $3bn.

Founded in…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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