GlobeImmune, Inc. is the latest biotech to file for an initial public offering.  Financial terms were not disclosed but the first filing is for up to $69 million in common stock.  This one has partnerships with Celgene Corporation (NASDAQ: CELG) and Gilead Sciences, Inc. (NASDAQ: GILD) and has five candidates under various stage trials.

Celgene is a 16% owner, Healthcare Ventures is a 14% owner, Morgenthaler is a 14% owner, and Lilly Ventures has more than a 6% stake and that is a $200 million fund tied originally to Eli Lilly & Co. (NYSE: LLY).

Book runners are listed as Wells Fargo Securities and Piper Jaffray, with JMP Securities as a co-manager.

The company description: “We are a biopharmaceutical company focused on developing therapeutic products for cancer and infectious diseases based on our proprietary Tarmogen® platform. Tarmogens activate the immune system by stimulating cellular immunity, known as T cell immunity, in contrast to traditional vaccines, which predominately stimulate antibody production. We have four Tarmogen product candidates in five ongoing clinical trials.”

GlobeImmunue’s lead cancer product candidate, GI-4000, is being evaluated in combination with gemcitabine in a fully-enrolled, placebo-controlled Phase 2b trial in resected pancreas cancer. Its lead infectious disease product candidate, GI-5005, has completed a randomized, active-control Phase 2b trial in chronic hepatitis C virus, or HCV, infection.

GlobeImmune has two strategic collaborations, one with Celgene Corporation for all oncology product candidates and one with Gilead Sciences, Inc. for chronic hepatitis B virus, or HBV, infection.

Of course this company is pre-revenue so it has nothing but losses to show to date.

FULL SEC FILING

JON C. OGG

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