Arcellx, a Phase 1 biotech developing next-gen CAR-T therapies for blood cancers, raised $124 million by offering 8.3 million shares at $15, the low end of the range of $15 to $17.
Arcellx's lead ddCAR candidate, CART-ddBCMA, is in Phase 1 development for the treatment of relapsed or refractory (r/r) multiple myeloma (MM). The company believes preliminary results from the trial demonstrate that D-Domains can potentially provide meaningful clinical benefits. Arcellx plans to initiate a Phase 2 pivotal trial of CART-ddBCMA for treatment of r/r MM in late 2022, as well as pursue development of the candidate in earlier lines of therapy.
Arcellx plans to list on the Nasdaq under the symbol ACLX. BofA Securities, SVB Leerink, Barclays, and William Blair acted as joint bookrunners on the deal.
