Antibody biotech IGM Biosciences sets terms for $125 million IPO

IGM Biosciences, a preclinical biotech developing antibody therapies for cancer, announced terms for its IPO on Tuesday.

The Mountain View, CA-based company plans to raise $125 million by offering 7.8 million shares at a price range of $15 to $17. At the midpoint of the proposed range, IGM Biosciences would command a fully diluted market value of $442 million.

IGM Biosciences was founded in 1993 and plans to list on the Nasdaq under the symbol IGMS. Jefferies, Piper Jaffray, Stifel and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of September 16, 2019.

The article Antibody biotech IGM Biosciences sets terms for $125 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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