Cue Biopharma proposes $40M IPO

On Sept. 21, cancer play Cue Biopharma Inc. (Cambridge, Mass.) proposed to raise up to $40 million in an IPO on NASDAQ underwritten by MDB Capital Group and Feltl.

Cue emerged from stealth mode in January with a $16.4 million venture round led by MDB. MDB seeded Cue with $10 million in 2015, when the newco spun out of the Albert Einstein College of Medicine with IP covering platforms to generate biologics that aim to activate or inhibit select T cell populations to treat cancer and autoimmune disease while avoiding the toxicities associated with chimeric antigen receptor T cell (CAR T) therapies. Cue’s cancer biologics activate endogenous T cells that naturally express cancer-specific T cell receptors (TCRs), whereas CAR Ts modify T cells ex vivo to express cancer-specific receptors...