Cullinan Management, a Phase 1/2a biotech developing and investing in oncology therapies, raised the proposed deal size for its upcoming IPO on Wednesday.
The Cambridge, MA-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 8.3 million shares at a range of $17 to $19. The company also removed its previously disclosed indications of interest from existing shareholders. At the midpoint of the revised range, Cullinan Management will raise 30% more in proceeds than previously anticipated.
Cullinan Management was founded in 2016 and plans to list on the Nasdaq under the symbol CGEM. Morgan Stanley, SVB Leerink, and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of January 4, 2021.
