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.
