The year is starting off with a number of biopharma and life sciences initial public offerings (IPOs). Last year was a record number of IPOs in the biotech industry, with 81 raising $13.5 billion. With this kind of a start, 2021 may be scorching.
TCR2 Therapeutics – The Cambridge, Mass. company announced pricing for its underwritten offering of 4,590,164 shares on January 20 of $30.50 per share. The company hopes to raise $140 million of common stock, which will be used to advance its clinical and earlier stage programs and for R&D, working capital and general corporate purposes. TCR2 is developing novel T-cell therapies for solid tumors and hematological cancers. Its T-cell receptor (TCR) Fusion Construct T cells (TRuC-T cells) recognize and kill cancer cells by leveraging signaling from the entire TCR.
TC-210 is currently in a Phase I/II trial for mesothelin-positive non-small cell lung cancer (NSCLC), ovarian cancer, malignant pleural/peritoneal mesothelioma, and cholangiocarcinoma. TC-110 is in a Phase I/II trial for CD19-positive adult acute lymphoblastic leukemia (aALL) and with aggressive or indolent non-Hodgkin lymphoma (NHL).