Century Therapeutics, a preclinical biotech developing allogenic stem cell treatments for multiple cancers, raised $211 million by offering 10.6 million shares at $20, the high end of the range of $18 to $20.
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 plans to list on the Nasdaq under the symbol IPSC. J.P. Morgan, BofA Securities, SVB Leerink, and Piper Sandler acted as joint bookrunners on the deal.
