10:20 AM
 | 
Apr 12, 2018
 |  BC Extra  |  Financial News

Abpro planning $69M NASDAQ listing

Antibody company Abpro Corp. (Woburn, Mass.) filed to raise up to $69 million in an IPO on NASDAQ underwritten by UBS, Wells Fargo, Nomura and Oppenheimer.

Abpro's two lead programs, ABP-100 and ABP-201, are designed to bind to two different binding sites on each of two targets using Abpro's TetraBi tetravalent antibody format. The company hopes to begin clinical testing of ABP-100 in 1H19 and ABP-201 in 2H19.

ABP-100 targets HER2 and CD3. Abpro hopes to develop it to treat HER2-positive solid tumors in Orphan indications.

ABP-201 targets VEGF and angiopoietin 2 (ANG2; ANPT2). The company intends to develop that antibody to treat vascular diseases of the eye, including diabetic macular edema (DME).

Co-founder, Chairman and CEO Ian Chan is Abpro's largest shareholder, with a 43.7% stake. Hong Kong-based Orion Investment Holdings is its largest outside shareholder with 18.1%.

Serial entrepreneur Robert Langer, a professor at Massachusetts Institute of Technology, holds a seat on Abpro's board.

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