Mersana Therapeutics, a clinical-stage biotech developing antibody drug conjugate therapies for cancers, announced terms for its IPO on Friday.
The Cambridge, MA-based company plans to raise $75 million by offering 5.0 million shares at a price range of $14 to $16. Insiders intend to purchase $30 million worth of shares in the offering. At the midpoint of the proposed range, Mersana Therapeutics would command a fully diluted market value of $380 million.
Mersana Therapeutics was founded in 2002 and booked $26 million in revenue for the 12 months ended March 31, 2017. It plans to list on the Nasdaq under the symbol MRSN. J.P. Morgan, Cowen & Company and Leerink Partners are the joint bookrunners on the deal. It is expected to price during the week of June 26, 2017.
