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Preclinical oncology biotech Immunome sets terms for $30 million IPO

September 24, 2020

Immunome, a preclinical biotech developing antibody therapies for cancer and infectious diseases, announced terms for its IPO on Thursday.

The Exton, PA-based company plans to raise $30 million by offering 2.5 million shares at a price range of $11 to $13. Insiders intend to buy $20 million worth of shares in the offering. At the midpoint of the proposed range, Immunome would command a fully diluted market value of $126 million.

The company is developing first-in-class antibody therapeutics based on its proprietary human memory B cell platform. The company's lead discovery program, IMM-ONC-01, is focused on interleukin-38, a small protein which appears to function as a novel immune checkpoint inhibitor. Immunome expects to file an IND for IMM-ONC-01 in the 2H21 upon successful completion of its preclinical evaluation.

Immunome was founded in 2006 and plans to list on the Nasdaq under the symbol IMNM. Ladenburg Thalmann and Chardan Capital Markets are the joint bookrunners on the deal. It is expected to price the week of 9/28/2020.