Comprehensive M&A data with integrated detailed company information

Abpro trials Nasdaq IPO
Posted on Thursday, 12 April 2018 11:43
An initial public offering (IPO) for Abpro will let the therapeutic antibody company, which is targeting human disease and is at the forefront of synthetic biology, fund preclinical development and investment in technology.

UBS Investment Bank and Wells Fargo Securities, as well as Nomura and Oppenheimer, are underwriters for the sale of new shares on Nasdaq.

Certain existing shareholders have shown interest in buying some of the stocks on offer as part of the IPO, which has a USD 69.00 million placeholder.

Abpro is initially focused on leveraging its DiversImmune and MultiMab antibody discovery and engineering platforms to develop novel antibody constructs for immuno-oncology, ophthalmology, and autoimmunity.

The group’s two candidates, ABP-100 and ABP-201, feature the group’s next generation tetravalent antibody format, or TetraBi, which binds to two different targets with two distinct binding sites per target.

ABP-100 is designed to redirect a patient’s immune system to fight cancer by engaging T cells through co-targeting human epidermal growth factor receptor 2 (HER2) and cluster of differentiation 3 T-cell co-receptor.

The company will initially develop ABP-100 for difficult to treat HER2+ solid tumours, focusing on orphan indications.

ABP-201 is designed to block blood vessel formation and normalise damaged vessels through co-targeting vascular endothelial growth factor and angiopoietin-2 to treat diabetic macular oedema.

The group intends to initiate clinical trials for ABP-100 in the first half of 2019 and for ABP-201 in the second half of 2019.

Strategically, Abpro will aggressively advance these two lead candidates into the clinic and leverage the group’s DiversImmune and MultiMab platforms to grow a pipeline of antibody products.

Furthermore, plans include following ABP-100 with a slate of CD3-targeting T-cell engagers and using this approach for other immune cell targets.

As a preclinical stage biopharmaceutical company, Abpro has a history of losses and had an accumulated deficit of USD 16.60 million and USD 28.90 million as of 31st December 2016 and 2017, respectively.

© Zephus Ltd