Unum Therapeutics, which is developing antibody-coupled T cell immunotherapies for cancers, announced terms for its IPO on Monday.
The Cambridge, MA-based company plans to raise $75 million by offering 5.8 million shares at a price range of $12 to $14. Insiders intend to purchase $37.5 million worth of shares in the offering. Seattle Genetics intends to invest $5 million in a concurrent private placement. At the midpoint of the proposed range, Unum Therapeutics would command a fully diluted market value of $413 million.
Unum Therapeutics was founded in 2014 and booked $8 million in revenue for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol UNUM. Morgan Stanley and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of March 26, 2018.
