OncoMed Pharmaceuticals, a biotech developing new antibody therapeutics to be used in cancer treatments, raised the proposed deal size for its upcoming IPO on Wednesday. The Redwood City, CA-based company now plans to raise $72 million by offering 4.8 million shares at a price range of $14 to $16. The company had previously filed to offer 4.0 million shares at the same range. At the midpoint of the revised range, OncoMed Pharmaceuticals will raise 20% greater proceeds than previously anticipated.
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. It is expected to price during the week of July 15, 2013.
