Upsized IPO of Biotech Company Intellia Prices at Top of Range
May 05 2016 - 8:58PM
Dow Jones News
By Josh Beckerman
Intellia Therapeutics Inc., a biotechnology company working on
"editing" defective genes, said its initial public offering of 6
million shares priced at $18 each.
The Cambridge, Mass., company filed confidential IPO paperwork
in September and disclosed its plans in April. Last week, it
estimated it would sell 5 million shares at $16 to $18 each.
Intellia is developing potential treatments for liver and blood
diseases and cancer. It is one of the companies focused on a
technology called Crispr-Cas9 that has raised hopes for future
drugs that could home in on specific genes and remove them.
The company's shareholders include Novartis AG, which
participated in a $15 million Series A financing round and a $70
million Series B round, and Regeneron Pharmaceuticals Inc., which
recently signed a six-year licensing and collaboration agreement
with Intellia. The deal called for a $75 million upfront payment to
Intellia, and the purchase of $50 million of stock in a private
placement at the same time as the IPO.
Intellia's venture-capital backers include Atlas Venture and
Orbimed Advisors. Atlas and Caribou Biosciences launched the
company in 2014.
Intellia will trade on the Nasdaq Global Market under the symbol
NTLA.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
May 05, 2016 20:43 ET (00:43 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Novartis (NYSE:NVS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Novartis (NYSE:NVS)
Historical Stock Chart
From Apr 2023 to Apr 2024
