Silverback Therapeutics, a Phase 1 biotech developing therapeutics for solid tumors and other diseases, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
The company uses its proprietary ImmunoTAC technology platform to develop tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases. Initially, the platform is being used to create a new class of targeted immuno-oncology agents that direct a myeloid cell activator to the tumor microenvironment (TME) in solid tumors to promote cancer cell killing. Lead candidate SBT6050 is currently in a Phase 1/1b clinical trial for advanced or metastatic HER2-expressing solid tumors, with an update on interim data from the Phase 1 dose-escalation cohorts expected in the 2H21.
The Seattle, WA-based company was founded in 2016 and plans to list on the Nasdaq under the symbol SBTX. Goldman Sachs, SVB Leerink, Stifel and H.C. Wainwright are the joint bookrunners on the deal. No pricing terms were disclosed.
