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Seer looks to unlock the human proteome

December 2, 2020

*Note: The IPO commentary below is normally only available on our premium platform, IPO Pro.*

Founded by serial biotech entrepreneur Omid Farokhzad with help from well-known scientist Robert Langer, Seer (SEER) is developing next-generation systems that use nanoparticles to analyze the human proteome. Just as next-gen genome sequencing companies have unlocked new insights for genetic diagnostics and therapies, Seer believes that its rapid, unbiased protein analysis will open new avenues for basic biological research, drug development, and diagnostic tests for early disease detection. Outside of clinical-stage biotechs, it is rare to see a pre-revenue company target a $1+ billion valuation at IPO, though investors have recently shown enthusiasm for other companies in the same space.

Here are four other things you need to know about Seer ahead of its IPO.

  1. Estimates global proteomics market of $32B, doubling to $64B in 2024 (+15% CAGR).
  2. Fidelity and others plan to invest $135mm in a concurrent private placement.
  3. No product revenue; expects to begin commercialization in 2021/2022.
  4. Co-founder/CEO is selling to SoftBank in a private placement, and has 47% voting power due to Class B shares.