With €200 Million, Cellectis is on its way to make the Biggest French Biotech IPO ever
Exactly one month ago, the article “Cellectis is preparing its IPO in the U.S” explained Cellectis prepared an IPO to be listed on the NASDAQ. Yesterday, the company announced the pricing of its initial public offering. Its goal is to raise €197M and up to €226.8M in case of allotment. A large amount of ressources to move forwards and become the leading CAR-T Biotech company.
The technology developed by Cellectis aims at reprogramming T lymphocytes, an essential player of the human immune system. Ultimately, the company’s approach intends that the reprogrammed T-cells to create an antibody which can recognize the protein indicating a cancer cell. The T lymphocytes could then destroy the cell in question. Thanks to this technology, the company has already signed partnerships with Servier which has promised up to €1Bn for 6 targets and more recently with Pfizer (for €2.6Bn) to collaborate and open a new laboratory in New York in the same building as the US pharmaceutical group.
Cellectis has several competitors including BlueBird Bio (see our interview here), Juno Therapeutics and Kite Pharma. However, these US companies have a public value 3 times superior to the French company.
André Choulika, Founder and Chairman of Cellectis explained to the French journal LesEchos: “We want to be judged by the same yardstick as the others and be able to lead the competitive battle with the same financial resources“
That is why Cellectis is launching its IPO on the NASDAQ. Its goal is to raise €197M and up to €226.8M in case of allotment. The company currently expects to use the net profits of the project to develop its candidate products in immuno-oncology. This will allow the company to continue its activities in the field of human therapeutics other than oncology, to enhance its agricultural biotechnology business, and to finance its capital working and other useful purposes.
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