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HBM Healthcare Investments benefits from the IPO of portfolio company IO Biotech

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EQS Group-News: HBM Healthcare Investments AG / Key word(s): IPO
08.11.2021 / 06:46

IO Biotech (Nasdaq: IOBT), a so far privately held company in the HBM Healthcare Investments portfolio, issued 7.15 million new shares at a price of USD 14.00 per share in last Friday's IPO on the US Nasdaq, raising USD 100 million in new capital. On the first day of trading, the shares closed at USD 15.65 (+11.8%).

HBM Healthcare Investments has invested USD 23.2 million in IO Biotech since January 2021 and holds 2.37 million shares with a total value of USD 37.0 million after the IPO.

IO Biotech, based in Copenhagen, Denmark, is developing novel immune-modulating cancer therapies based on its T-win(R) technology platform. The T-win(R) platform is a novel approach to cancer immunotherapy designed to activate naturally occurring T cells to target immunosuppressive mechanisms. The company's lead candidate, IO102-IO103, received Breakthrough Therapy Designation from the FDA for the treatment of unresectable/metastatic melanoma and is about to start a phase 3 trial in combination with pembrolizumab.

Contact
For further information, please contact Dr Andreas Wicki on +41 41 710 75 77, or at andreas.wicki@hbmhealthcare.com.


End of Media Release

Language:

English

Company:

HBM Healthcare Investments AG

Bundesplatz 1

6300 Zug

Switzerland

Phone:

+41438887171

Fax:

+41438887172

E-mail:

info@hbmhealthcare.com

Internet:

https://www.hbmhealthcare.com

ISIN:

CH0012627250

Valor:

1262725

Listed:

SIX Swiss Exchange

EQS News ID:

1246818


 

End of News

EQS Group News Service

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