MedCity News October 24, 2021
Cancer drug developer Xilio Therapeutics and Ventyx Biosciences, a company with drug candidates in cancer and autoimmune diseases, are the latest life science companies to go public. They’ll use proceeds from their respective IPOs to continue clinical development of drugs being positioned as competitors to drugs from big pharmaceutical companies.
Xilio Therapeutics and Ventyx Biosciences, two biotech companies each with multiple drug candidates viewed as potential competitors to drugs from pharmaceutical giants, have made their public market debuts raising a combined $269.1 million to advance clinical development of multiple programs.
Xilio’s IPO raised $117.6 million. The Waltham, Massachusetts-based biotech priced its offering of more than 7.3 million shares at $16 apiece, which was the middle of the price range the...