MiNK Therapeutics, a Phase 1 biotech developing allogeneic NK T cells for cancer and other diseases, raised $40 million by offering 3.3 million shares at $12, the low end of the range of $12 to $14. The company offered 0.7 million fewer shares than anticipated.
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 plans to list on the Nasdaq under the symbol INKT. Evercore ISI and William Blair acted as joint bookrunners on the deal.
