IPO keeps Adaptimmune in immunotherapy race as bets pass $1.5bn
This article was originally published in Scrip
Executive Summary
Adaptimmune has become the latest immunotherapy company to raise a large chunk of cash on a US stock exchange, raising an estimated $175m net of expenses through a 6 May offering of American Depositary Shares on Nasdaq. In an area of huge potential but little clinically-proven differentiation, the new money may provide a sufficient financial springboard for the Oxford, UK-based company to throw cash at product development, slugging it out with well-backed US-based firms such as Bellicum Pharmaceuticals, Kite Pharma and Juno Therapeutics, as well as with established competitors such as Novartis.