The Alphabet-backed immunotherapy developer secured nearly $588m in what was reputedly the largest ever flotation for a preclinical life sciences company.
US-based stem cell medicine developer Sana Biotechnology raised almost $588m on Wednesday in an upsized initial public offering representing an exit for GV, a subsidiary of internet and technology group Alphabet.
The company issued 23.5 million shares on the Nasdaq Global Select Market, up from a planned 15 million, priced at $25.00 each, above the $20 to $23 range set last week.
The IPO price valued Sana Bio at $4.9bn and its shares surged 40% on the first day…
