Oncology biotech Immuneering sets terms for $105 million IPO

Immuneering, a preclinical biotech targeting signaling pathways to treat cancer and neurological diseases, announced terms for its IPO on Monday.

The Cambridge, MA-based company plans to raise $105 million by offering 7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Immuneering would command a fully diluted market value of $391 million.

Immuneering's oncology programs target mutations of the MAPK and mTOR pathways, which run parallel to each other and are inappropriately activated in over half of all cancers. The company's lead program, IMM-1-104, is a highly selective dual-MEK inhibitor being developed for the treatment of advanced solid tumor patients harboring RAS mutant tumors. Immuneering plans to submit an IND for IMM-1-104 in the 1Q22 and anticipates filings at least two additional INDs for its other oncology programs in each of 2023 and 2024.

Immuneering was founded in 2008 and booked $3 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol IMRX. Morgan Stanley, Jefferies, Cowen, and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of July 26, 2021.

The article Oncology biotech Immuneering sets terms for $105 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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