Immune Design prices IPO at $12, the low end of the range
Immune Design, an early-stage biotech developing immunotherapy oncology treatments, raised $60 million by offering 5.0 million shares at $12. The company had planned to offer 4.7 million shares at a range of $12 to $14. Insiders purchased $20 million in stock at the offer price (33% of the offering). It plans to list on the NASDAQ under the symbol IMDZ.
Immune Design is led by Carlos Paya, a former president of Elan Corporation. Its lead product candidates are in Phase 1 trials, and product revenue is not expected for several years.
Immune Design initially filed confidentially on 4/24/2014. Jefferies & Co. and Leerink Partners acted as joint bookrunners on the deal.
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