Fierce Biotech February 9, 2024
Kyverna CEO Peter Maag, Ph.D., was unequivocal when asked how it feels to be one of biotech’s torchbearers for autoimmune-focused cell therapies.
“I think we’re in the next phase of medicine; I think it’s the next 30 years,” he said, comparing the burgeoning modality to monoclonal antibodies.
He and Kyverna just closed a $319 million IPO to prove just that, adding more financial caffeine to an awakening public marketplace that so far in 2024 seems significantly more amenable than in the prior two years.
Kyverna’s shares closed at $30 apiece on Thursday evening, more than $8 higher than the $22 price point that the company launched onto Nasdaq with earlier in the day.
The biotech’s public-market plans...
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