Century Therapeutics, a preclinical biotech developing allogenic stem cell treatments for multiple cancers, announced terms for its IPO on Monday.
The Philadelphia, PA-based company plans to raise $200 million by offering 10.6 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Century Therapeutics would command a fully diluted market value of $1.1 billion.
Century Therapeutics is developing an allogenic stem cell platform that allows it to incorporate multiple transgenes and remove target genes to optimize cell product performance. The company claims that the precision of its CRISPR-HDR gene editing technology and clonal selection eliminates random integration events and allows more controlled expression of transgenes of interest compared to other gene editing methodologies. The company expects to file an IND for its lead candidate, CNTY-101, in mid-2022, targeting CD19 for lymphoma.
Century Therapeutics was founded in 2018 and plans to list on the Nasdaq under the symbol IPSC. J.P. Morgan, BofA Securities, SVB Leerink, and Piper Sandler are the joint bookrunners on the deal. It is expected to price during the week of June 14, 2021.
