Heat Biologics, which is developing cellular therapeutic vaccines for cancer therapy, announced terms for its IPO on Thursday. The Chapel Hill, NC-based company plans to raise $18 million by offering 1.7 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Heat Biologics would command a market value of $58 million. Heat Biologics, which was founded in 2008 and has generated $0.6 million in grant awards since inception, plans to list on the NASDAQ under the symbol HTBX. Heat Biologics initially filed confidentially on December 24, 2012. Aegis Capital is the sole bookrunner on the deal.
