Canadian Pandemic Rx developer AbCellera hires banks for US IPO

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Canadian Pandemic Rx developer AbCellera hires banks for US IPO

AbCellera Biologics Inc., the Vancouver-based Canadian biotechnology firm, which has been developing cures for the ongoing pandemic outbreak, had hired a US lender for its NYSE-listing which would likely to take place later this year, at least three people familiar with the subject-matter had unveiled on Friday.

In point of fact, AbCellera’s planned public listing came forth as a raft of trading platforms in the United States have been experiencing a strong demand for the biotech stocks, while healthcare sector accounts for almost half of the Initial Public Offerings in the US so far this year, data from IPOScoop had revealed.

AbCellera hires Credit Suisse, Stifel & Leerink as lead underwriter

Besides, banking sources had also revealed earlier on Friday that the Canadian pharmaceutical developing cures for the pandemic outbreak, had already hired three financial services providers such as Credit Suisse Group AG, Stifel Financial Corp.

and SVB Leerink as lead underwriters for its IPO later this year. On tops of that, another people close to AbCellera’s IPO arrangement said on condition of anonymity later this week that the company had been on the lookout to raise an upsum between $200 million to $300 million adding the plans could change according to equity market conditions.

In tandem, although AbCellera alongside the lead underwriters of its planned IPO had declined to comment over the issue while being asked, another source familiar to the Vancouver-based pharmaceutical that claimed to have used microfluidics, data science and machine learning to develop antibodies which could be inserted into the human body to treat or prevent disease, had reported that the company had been planning to submit an IPO filing with the US Securities and Exchange Commission as early as by the coming weeks.

AbCellera and Eli Lilly Co. have joined forced earlier this year to develop an antibody therapy for the global-scale pandemic outbreak.