Silverback Therapeutics, a Phase 1 biotech developing TLR8 agonist-antibodies for HER2/3 solid tumors, raised the proposed deal size for its upcoming IPO on Thursday.
The Seattle, WA-based company now plans to raise $195 million by offering 10 million shares at a price range of $19 to $20. The company had previously filed to offer 7 million shares at a range of $17 to $19. At the midpoint of the revised range, Silverback Therapeutics will raise 56% more in proceeds than previously anticipated.
Silverback Therapeutics was founded in 2016 and plans to list on the Nasdaq under the symbol SBTX. Goldman Sachs, SVB Leerink and Stifel are the joint bookrunners on the deal. It is expected to price during the week of November 30, 2020.
