A return in the U.S. initial public offering market is underway, driven by projections of further interest rate decreases and less market volatility. (Representational image: Unsplash) 
Pharmacy

Zenas Biopharma to File for a US IPO, Backed by Bristol-Myers Squibb

Zenas BioPharma, supported by Bristol-Myers Squibb, has submitted an application to go public in the US, according to a regulatory filing on Thursday

Author : Priyanka Pandey

Zenas BioPharma, supported by Bristol-Myers Squibb, has submitted an application to go public in the US, according to a regulatory filing on Thursday, indicating growing investor interest in new listings.

Zenas BioPharma, supported by Bristol-Myers Squibb, has submitted an application to go public in the US, according to a regulatory filing on Thursday, indicating growing investor interest in new listings.

A return in the U.S. initial public offering market is underway, driven by projections of further interest rate decreases and less market volatility.

Since its founding, Zenas BioPharma, a biopharma business focused on inflammation and immunology, has raised $358.3 million from investors.

Tellus BioVentures, Fairmount, Norwest Venture Partners, Enavate Sciences, and Bristol-Myers Squibb are among the investors in the company. (Representational image: Unsplash)
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Tellus BioVentures, Fairmount, Norwest Venture Partners, Enavate Sciences, and Bristol-Myers Squibb are among the investors in the company.

For the six months that concluded on June 30, the company lost $65.8 million as opposed to $48.1 million in the same period last year. The quantity of shares it intended to sell and the suggested price range were not disclosed.

The company anticipates using the ticker symbol "ZBIO" to trade its shares on the Nasdaq Global Market. The underwriters include Guggenheim Securities, Jefferies, Morgan Stanley, and Citigroup.

(Input from various sources)

(Rehash/Priyanka Pandey/MSM)

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