Wisconsin-Madison spin-out Cellular Dynamics raises $46m in an IPO.

Biotech Cellular Dynamics, a spin-out of the University of Wisconsin-Madison, has raised $46m in an initial public offering. Founded in 2004, the US-based firm offered 3.8 million shares at $12, the low end of a $12 to $14 range, trading under the symbol ICEL on Nasdaq. Despite providing cell lines to 18 of the 20…

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