- Codiak BioSciences priced 5.5 mln share IPO at $15, the mid-point of the $14-$16 expected price range, for gross proceeds of ~$82.5M.
- Underwriters' over-allotment is an additional 825K shares.
- Closing date is October 16.
- Goldman Sachs, Evercore ISI and William Blair are acting as joint book-running managers. Wedbush PacGrow is lead manager.
The Cambridge, Massachusetts-based biotech emerged in 2015 with $31 million in VC funding and ex-Biogen R&D chief Doug Williams at the helm. It picked up another $61 million in a series B round just months later and, in 2017, topped that up with a $76.5 million series C.
In April 2019, Codiak was ready to hit the Street, filing to raise up to $86 million in its IPO. It withdrew that attempt two months later and refiled in September this year.
About Codiak
Codiak is a clinical-stage biopharmaceutical company focused on pioneering the development of exosome-based therapeutics, a new class of medicines with the potential to transform the treatment of a wide spectrum of diseases with high unmet medical need. By leveraging the biology of exosomes as natural intercellular transfer mechanisms, Codiak has developed its proprietary engEx Platform to expand upon the innate properties of exosomes to design, engineer and manufacture novel exosome therapeutic candidates. Codiak has utilized its engEx Platform to generate a deep pipeline of engineered exosomes aimed at treating a broad range of disease areas, spanning oncology, neuro-oncology, neurology, neuromuscular disease and infectious disease.
Sector(s): Healthcare
Industry: Biotechnology
Full Time Employees: 101
HQ: Cambridge, MA United States
