IGM Biosciences, a Phase 1/preclinical immuno-oncology biotech developing engineered antibodies, raised $175 million by offering 10.9 million shares at $16, within the $15 to $17 range. Insiders had planned to purchase $100 million of the IPO (57% of the deal).
IGM Biosciences plans to list on the Nasdaq under the symbol IGMS. Jefferies, Piper Jaffray, Stifel and Guggenheim Securities acted as lead managers on the deal.
