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IPO Roundup: Israel's Anchiano Therapeutics and San Francisco’s Alector to tap US capital markets

Both the biotech companies will create IPO momentum for Nasdaq's biotech equity sector
A doctor and patient
Alector is focused on developing therapies to treat neurodegenerative diseases such as dementia

Jerusalem-based Anchiano Therapeutics, a clinical-stage biopharmaceutical company focused on the development of therapies to treat cancer-related diseases, plans to tap the US capital markets.

The biotech’s filing Monday via book-runner Ladenburg Thalmann and Oppenheimer comes with a placeholder size of $35 million.

READ: Uber files for IPO as it kicks off race to float with rival Lyft

The company is looking to list its American Depositary Shares on the tech-laden Nasdaq and trade under the ticker symbol ANCN.

It is primarily developing Inodiftagene vixteplasmid for the treatment of non-muscle invasive bladder cancer.

The biotech has offices in Cambridge, Massachusetts and Jerusalem, Israel.

San Francisco-based Alector Inc, a clinical stage biopharmaceutical company, is seeking to raise $150 million, according to a filing submitted to the Securities and Exchange Commission.

Alector is focused on developing therapies to treat neurodegenerative diseases such as dementia.

Alector announced the initiation of a first-in-human Phase 1 trial called the INVOKE study, investigating the company’s second product candidate, AL002, for the treatment of patients with Alzheimer’s disease.

In 2017, Alector entered a global strategic partnership with AbbVie Inc (NYSE:ABBV) that includes the AL002 program.

The biotech reported a net loss of $34.9 million on revenue of $18.5 million as of September 2018.

Alector plans to trade under the ticker symbol ALEC when it lists on the Nasdaq.

Morgan Stanley, Bank of America Merrill Lynch, Cowen and Barclays are acting as underwriters.

 

Contact Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

 

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