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Pancreatic cancer biotech Aduro sets terms for $75 million IPO

Aduro Biotech, which is developing an immunotherapy for pancreatic cancer, announced terms for its IPO on Monday.

The Berkeley, CA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Aduro Biotech would command a fully diluted market value of $1.0 billion.

Aduro Biotech, which was founded in 2000 and booked $13 million in sales for the 12 months ended December 31, 2014, plans to list on the NASDAQ under the symbol ADRO. BofA Merrill Lynch and Leerink Partners are the joint bookrunners on the deal. It is expected to price during the week of April 13, 2015.

The article Pancreatic cancer biotech Aduro sets terms for $75 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, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , 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.


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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