OncoMed Pharmaceuticals, a biotech developing new antibody therapeutics to be used in cancer treatments, announced terms for its IPO on Monday. The Redwood City, CA-based company plans to raise $60 million by offering 4 million shares at a price range of $14 to $16. At the midpoint of the proposed range, OncoMed Pharmaceuticals would command a market value of $394 million.
OncoMed Pharmaceuticals, which was founded in 2004 and booked $25 million in collaboration and grant revenue for the 12 months ended March 31, 2013, plans to list on the NASDAQ under the symbol OMED. Jefferies and Leerink Swann are the joint bookrunners on the deal.
