AnaptysBio Gets Ready for IPO

By Chris Lange Published Sep 10, 7:15AM EDT

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AnaptysBio Inc. has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No terms were given in the filing, but the offering is valued up to $86.25 million, although this number is usually just a placeholder. The company plans to list on the Nasdaq Global Market under the symbol ANAB.

The underwriters for this offering are BMO Capital Markets, Stifel, JMP Securities and Wedbush PacGrow.

This biotechnology company develops first-in-class antibody product candidates focused on unmet medical needs in inflammation and immuno-oncology. AnaptysBio develops product candidates using its proprietary antibody discovery technology platform, which is designed to replicate, in vitro, the natural process of antibody generation.

The platform is based on a breakthrough understanding of somatic hypermutation, the key biological process utilized to generate antibodies, which enables the company to rapidly develop highly functional antibody drug candidates against emerging biological targets.

The most advanced, wholly owned programs, ANB020 and ANB019, are being developed to treat severe inflammatory disorders with unmet medical need. In 2016, AnaptysBio plans to initiate clinical trials of ANB020, an antibody that inhibits the activity of interleukin-33 for the treatment of severe adult asthma and severe adult peanut allergy, and ANB019, an antibody that inhibits the interleukin-36 receptor for the treatment of rare inflammatory diseases called generalized pustular psoriasis and palmo-plantar pustular psoriasis.

In the filing, AnaptysBio detailed:

Additionally, we have entered into multiple collaborations from which we expect four programs will enter the clinic by the end of 2016. Our collaborations include an immuno-oncology-focused collaboration with TESARO, Inc. and TESARO Development, Ltd., or collectively, TESARO, and an inflammation-focused collaboration with Celgene Corporation, or Celgene. Through August 31, 2015, we have received non-dilutive funding of $48.7 million from our collaborators.

The company intends to use the proceeds from this offering to fund the development of its pipeline and for working capital, including general corporate purposes.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.