Silverback Therapeutics, a Phase 1 biotech developing TLR8 agonist-antibodies for HER2/3 solid tumors, raised $242 million by offering 11.5 million shares at $21, above the range of $19 to $20. The company offered 1.5 million more shares than anticipated. It originally planned to offer 10 million shares at a range of $19 to $20, before revising its terms on Wednesday. At pricing, Silverback Therapeutics commands a fully diluted market value of $758 million.
Silverback Therapeutics plans to list on the Nasdaq under the symbol SBTX. Goldman Sachs, SVB Leerink and Stifel acted as lead managers on the deal.
