Cabaletta Bio, a Phase 1-ready biotech developing engineered T cells for autoimmune diseases, raised $75 million by offering 6.8 million shares at $11, below the range of $14 to $16. The company sold 1.0 million more shares than expected. At the offer price, Cabaletta Bio commands a market cap of $272 million.
Cabaletta Bio plans to list on the Nasdaq under the symbol CABA. Morgan Stanley, Cowen and Evercore ISI acted as lead managers on the deal.
