Neon proposes $115M IPO

Neoantigen play Neon Therapeutics Inc. (Cambridge, Mass.) proposed Thursday to raise $115 million in an IPO on NASDAQ underwritten by Morgan Stanley, BofA Merrill Lynch, Mizuho and Oppenheimer.

Neon’s lead program, personalized neoantigen vaccine NEO-PV-01, is in two Phase Ib trials in combination with anti-PD-1 mAbs. One is with Opdivo nivolumab from Bristol-Myers Squibb Co. (NYSE:BMY) to treat patients with melanoma, non-small cell lung cancer (NSCLC) or bladder cancer; the other is with Keytruda pembrolizumab from Merck & Co. Inc. (NYSE:MRK) plus chemotherapy to treat untreated or advanced, metastatic non-squamous NSCLC...