VC-backed Adaptimmune prices IPO

Adaptimmune has placed 11,250,000 shares on Nasdaq under the ticker ADAP. The listing awards the company with a market cap of $1.3bn.

Bank of America Merrill Lynch, Cowen and Company, and Leerink Partners acted as joint book-running managers and Guggenhein Securities acted as lead manager for the offering.

Previous funding
In September 2014, New Enterprise Associates (NEA) led a $104m series-A funding round for the company, joined by OrbiMed, Wellington Partners, Fidelity Biosciences, Ridgeback Capital Mangement, Novo, QVT, Rock Springs Capital, venBio and Merlin Nexus.

Company
Founded in 2008, Adaptimmune is a clinical stage biopharmaceutical company focused on novel cancer immunotherapy products based on its T-cell receptor platform.

In June 2014, the company struck a strategic collaboration and licensing agreement with GlaxoSmithKline for the development and commercialisation of the NY-ESO TCR programme.

Adaptimmune is headquartered in Oxford and operates a clinical base in Philadelphia in the US. The company employs 100 people.

People
James Noble is the CEO of Adaptimmune. NEA partner and healthcare head David Mott sits on the company's board of directors alongside Ali Behbahani, a partner on NEA's healthcare team, and OrbiMed partner Peter Thompson.

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