Orphan disease biotech Fate Therapeutics files for a $69 million IPO
Fate Therapeutics, a clinical-stage biotech developing stem cell treatments for orphan diseases, filed on Wednesday with the SEC to raise up to $69 million in an initial public offering. The San Diego, CA-based company, which was founded in 2007 and booked $2 million in grant and collaboration revenue for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol FATE. Cowen and Company and BMO Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.