Pennsylvania spinout Apellis Pharmaceuticals has floated on the Nasdaq Global Select Market after raising $150m in its initial public offering.
Apellis Pharmaceuticals, a US-based biopharmaceutical spinout from University of Pennsylvania that is working on treatments for currently incurable conditions, has completed a $150m initial public offering.
The spinout has floated on the Nasdaq Global Select Market. Shares traded at 13.93 as of yesterday’s close, giving Apellis a market cap of just over $686m.
Founded in 2009, Apellis Pharmaceuticals is developing immunotherapies for a wide range of autoimmune diseases that currently have no cure.
Its lead drug candidate, APL-2, is currently…
