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Syncona welcomes pricing of Achilles Therapeutics IPO
StockMarketWire.com
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Healthcare investor Syncona welcomed news that portfolio company Achilles Therapeutics had priced a US initial public offering to raise around $175.5 million (£127.8 million).
The American depository shares were being issued at $18 each.
They were expected to begin trading on the Nasdaq Global Select Market on 31 March.
Syncona would retain a 27% stake in Achilles, with a total value of £145.4 million.
'Today's milestone is a significant achievement for Achilles as it seeks to deliver its ambition of bringing neo-antigen targeted T-cell therapies to cancer patients,' Syncona chief executive Martin Murphy said.
'It comes less than five years after Syncona's first investment at the foundation of the company and we look forward to seeing the company's continued progress.'
Story provided by StockMarketWire.com
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