Vaxcyte, a preclinical biotech developing pneumococcal vaccines, filed last Friday with the SEC to raise up to $100 million in an initial public offering.
The company's pipeline contains pneumococcal conjugate vaccine (PCV) candidates that it believes are the most broad-spectrum PCV candidates currently in development. Its lead candidate, VAX-24, is a 24-valent investigational PCV designed to provide broad-spectrum coverage of Pneumovax 23 with an immunogenicity profile comparable to Prevnar 13. The company expects to advance VAX-24 into clinical trials in the 2H 2021.
The Foster City, CA-based company was founded in 2013 and plans to list on the Nasdaq under the symbol PCVX. Vaxcyte filed confidentially on October 11, 2019. BofA Securities, Jefferies, and Evercore ISI are the joint bookrunners on the deal. No pricing terms were disclosed.
