Vor Biopharma, a Phase 1/2 biotech developing cell therapies for hematological diseases, announced terms for its IPO on Monday.
The Cambridge, MA-based company plans to raise $150 million by offering 8.8 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Vor Biopharma would command a fully diluted market value of $654 million.
The company's pipeline contains its lead engineered hematopoietic stem cell (eHSC) candidate, VOR33, and its companion therapeutic, VCAR33, a CAR-T therapy designed to target CD33. A T cell therapy using the same CAR construct as VCAR33 is currently in a Phase 1/2 trial for AML that is sponsored by the National Marrow Donor Program, with initial monotherapy proof-of-concept data expected in 2022. The company's IND application for VOR33 in patients with AML was accepted by the FDA in January 2021, and it intends to initiate a Phase 1/2a trial in the 1H21.
Vor Biopharma was founded in 2015 and plans to list on the Nasdaq under the symbol VOR. Goldman Sachs, Evercore ISI, Barclays and Stifel are the joint bookrunners on the deal. It is expected to price during the week of February 1, 2021.
