Cancer immunotherapy biotech Adaptimmune Therapeutics sets terms for $150 million IPO

Adaptimmune Therapeutics, which is developing cancer immunotherapies based on genetically engineered T-cell receptors, announced terms for its IPO on Monday. The Abingdon, United Kingdom-based company plans to raise $150 million by offering 9.4 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Adaptimmune Therapeutics would command a fully diluted market value of $1.2 billion.

Adaptimmune Therapeutics was founded in 2008 and plans to list on the NASDAQ under the symbol ADAP. BofA Merrill Lynch, Cowen & Company and Leerink Partners are the joint bookrunners on the deal. It is expected to price during the week of May 4, 2015.