MiNK Therapeutics, a Phase 1 biotech developing allogeneic NK T cells for cancer and other diseases, announced terms for its IPO on Tuesday.
The New York, NY-based company plans to raise $52 million by offering 4 million shares at a price range of $12 to $14. At the midpoint of the proposed range, MiNK Therapeutics would command a fully diluted market value of $493 million.
MiNK Therapeutics' lead program, AGENT-797, is an allogeneic, off-the-shelf, invariant natural killer T (iNKT) cell therapy targeting cancer and other immune-mediated diseases. The company claims that iNKT cells naturally home to tissues, aid clearance of tumors and infected cells, and suppress graft-versus-host disease. AGENT-797 is currently conducting a Phase 1 trial in multiple myeloma patients that is expected to report top-line data in the fourth quarter of 2021.
MiNK Therapeutics was founded in 2017 and plans to list on the Nasdaq under the symbol INKT. Evercore ISI, and William Blair are the joint bookrunners on the deal.
