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ARTICLE | Financial News

Equillium prices $65.4M IPO

October 19, 2018 5:50 PM UTC

Autoimmune and inflammatory disease company Equillium Inc. (NASDAQ:EQ) raised $65.4 million in an IPO on Oct. 12 through the sale of 4.7 million shares at $14. Jefferies, Leerink and Stifel underwrote the offering.

The company has U.S. and Canadian rights to lead candidate itolizumab (EQ001) from Biocon Ltd. (NSE:BIOCON; BSE:535523). Equillium plans to start a Phase Ib/II trial early next year of the candidate to treat acute graft-versus-host disease (GvHD), with Phase Ib data expected within 12 months of the trial start. Next half, the company expects to evaluate itolizumab in a Phase II trial to treat chronic GvHD and in a proof-of-concept trial for severe asthma. Equillium said it anticipates developing the product in at least one additional indication...

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