Kite Pharma, Microlin Bio amend IPOs
Cancer immunotherapy company Kite Pharma Inc. (Los Angeles, Calif.) and microRNA company Microlin Bio Inc. (New York, N.Y.) amended IPOs on NASDAQ. Kite plans to sell 7.5 million shares at $15-$16. At the $15.50 midpoint, the company would raise $116.3 million and be valued at $576.6 million. Earlier this month, Kite announced plans to sell 6 million shares at $12-$14. At the $13 midpoint, the company would have raised $78 million and been valued at $473.6 million. Jefferies; Credit Suisse; Cowen; and Stifel are underwriters. In 1H15, Kite plans to start a Phase I/II trial of lead candidate, KTE-C19, in patients with relapsed or refractory diffuse large B cell lymphoma (DLBCL). Preliminary data are expected next year. KTE-C19 consists of autologous T cells genetically modified to express a chimeric antigen receptor (CAR) targeting CD19 (see BioCentury Extra, June 11). ...