Stanford spinout Bolt Biotherapeutics has raised more than twice as much as originally planned in an offering that also provided exits for corporates Pfizer, Novo and Fan Fung.

Bolt Biotherapeutics, a US-based oncology therapy spinout of Stanford University, went public on Friday after issuing 11.5 million shares priced at $20 to raise $230m in proceeds.
Shares surged more than 60% to close at $32.15 on the first day of trading on the Nasdaq Global Select Market, where the spinout is now listed under the ticker symbol BOLT. The company initially aimed for $100m in proceeds when it filed its draft prospectus last month.
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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.