The AIG, Illumina, Alphabet and Orient Life-backed cell therapy developer priced its shares at the bottom of the range to raise $70.6m.

US-based cellular medicine developer SQZ Biotechnologies has floated in a $70.6m initial public offering that scored exits for corporates AIG, Illumina, Alphabet and Orient Life.

The offering consisted of just over 4.4 million shares issued on the New York Stock Exchange (NYSE) and priced at $16.00 each at the foot of the IPO’s $16 to $18 range. The company went public last Friday and its shares closed at $14.50 yesterday, valuing it at approximately $348m.

SQZ is developing cell…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
Robert Lavine

Robert Lavine is special features editor for Global Venturing.
Email LinkedIn