Xbiotech, which is developing antibodies for colorectal cancer and various other conditions, filed on Monday with the SEC to raise up to $50 million in an initial public offering.
The IPO is being marketed by WR Hambrecht on a "best efforts" basis.
CEO John Simmard previously founded CTL ImmunoTherapies and AlleCure, which merged to form MannKind (NASDAQ: MNKD) in 2001, now a biotech with a $2.3 billion market cap. Thorpe McKenzie co-founded Tiger Management with Julian Robertson in 1980.
Recent antibody biotech IPOs include Alder Biopharmaceuticals (ALDR) and Xencor (XNCR)
The Austin, TX-based company, which was founded in 2005, plans to list on the NASDAQ under the symbol XBIT. Xbiotech initially filed confidentially on December 10, 2014. WR Hambrecht is the sole bookrunner on the deal. No pricing terms were disclosed.
