Instil Bio, an early stage biotech developing cell therapies for cancer, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Instil Bio is developing a cell therapy pipeline of autologous tumor infiltrating lymphocyte (TIL) therapies for the treatment of cancer. Its lead TIL candidate, ITIL-168, is being developed for the treatment of advanced melanoma. The company plans to submit an IND and initiate a Phase 2 trial in the 2H21, which the company believes could support a BLA submission in 2023. Instil plans to initiate Phase 1 trials of ITIL-168 in additional indications with unmet medical need in the 1H22.
The Dallas, TX-based company was founded in 2018 and plans to list on the Nasdaq under the symbol TIL. Instil Bio filed confidentially on January 12, 2021. Morgan Stanley, Jefferies and Cowen are the joint bookrunners on the deal. No pricing terms were disclosed.
