GlobeImmune Files For IPO, Cancer & Hepatitis with Great Partnerships

Print Email

GlobeImmune, Inc. is the latest biotech to file for an initial public offering.  Financial terms were not disclosed but the first filing is for up to $69 million in common stock.  This one has partnerships with Celgene Corporation (NASDAQ: CELG) and Gilead Sciences, Inc. (NASDAQ: GILD) and has five candidates under various stage trials.

Celgene is a 16% owner, Healthcare Ventures is a 14% owner, Morgenthaler is a 14% owner, and Lilly Ventures has more than a 6% stake and that is a $200 million fund tied originally to Eli Lilly & Co. (NYSE: LLY).

Book runners are listed as Wells Fargo Securities and Piper Jaffray, with JMP Securities as a co-manager.

The company description: “We are a biopharmaceutical company focused on developing therapeutic products for cancer and infectious diseases based on our proprietary Tarmogen® platform. Tarmogens activate the immune system by stimulating cellular immunity, known as T cell immunity, in contrast to traditional vaccines, which predominately stimulate antibody production. We have four Tarmogen product candidates in five ongoing clinical trials.”

GlobeImmunue’s lead cancer product candidate, GI-4000, is being evaluated in combination with gemcitabine in a fully-enrolled, placebo-controlled Phase 2b trial in resected pancreas cancer. Its lead infectious disease product candidate, GI-5005, has completed a randomized, active-control Phase 2b trial in chronic hepatitis C virus, or HCV, infection.

GlobeImmune has two strategic collaborations, one with Celgene Corporation for all oncology product candidates and one with Gilead Sciences, Inc. for chronic hepatitis B virus, or HBV, infection.

Of course this company is pre-revenue so it has nothing but losses to show to date.