CAR-T biotech Cellectis boosts IPO 50% to $197 million
- Paris-based Cellectis, which specializes in a unique form of chimeric antigen receptor (CAR)- therapy, has increased the size of its proposed IPO from $115 million to $197 million.
- The total offering is now expected to be 4.75 million shares, up from 3.5 million shares.
- The company's stock is up almost 15% this week, and a total of 225% since the beginning of the year.
Cellectis was founded in 2000 and in the last 15 years has become a biotech superstar. Until now, CAR-T have used a non-viral gene transfer system in which the patient's own T cells are removed, modified, and re-injected with the goal of having these modified T-cells (injected with targeting CARs) seek out cancerous cells and kill them.
Cellectis, which has partnered with Pfizer, has a different approach to CAR-T, which involves allogeneic (HLA-matched) therapies that can be used by a broader group of patients.
- Renaissance Capital CAR T goes into overdrive: Cellectis increases proposed IPO deal size by 50%