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Tessera said it will use the latest round of funding to accelerate research and development in the company's gene writing technologies, expand its team, and establish manufacturing and automation capabilities critical for its platform and programs.
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“The ability to write in the code of life will be a defining technology of this century and drive a fundamental change in medicine,” said Geoffrey von Maltzahn, CEO and cofounder of Tessera Therapeutics.
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Tessera Therapeutics completed a Series B financing of more than $230 million, proceeds of which are intended to advance its “gene writing” technology, designed to write therapeutic instructions into the genome to treat diseases at their source.īy changing any base pair to another, making small insertions or deletions, and writing entire genes into the genome, Tessera says, gene writing can unlock the potential to cure genetic diseases and create life-changing therapeutics in cardiovascular, oncological, neurodegenerative, and infectious diseases. TESSERA THERAPEUTICS COMPLETES $230M SERIES B Morgan acted as lead placement agent for the private placement, with William Blair serving as joint placement agent. Among the institutional investors that participated in the syndicate were Perceptive Advisors, Farallon Capital, Casdin Capital, Redmile Group, and Cormorant Asset Management. The Beam shares were offered at a price of $93 per share, representing an ∼10% discount to the 5-day volume weighted average share price. Collins, MD, PhD, in which the researchers essentially cured a mouse model of Hutchinson–Gilford progeria syndrome (HGPS): “These findings demonstrate the potential of in vivo base editing as a possible treatment for HGPS and other genetic diseases by directly correcting their root cause.” 3 The preclinical potential of base editing was demonstrated in a recent article in Nature from Liu's laboratory, in collaboration with NIH director Francis S. 2īeam Therapeutics is leading the commercial development of base editing, an exciting new genome-editing technology developed in the laboratory of David R. Net proceeds from the offering will go “to support clinical development, to pursue strategic partnerships and general corporate purposes,” Beam said. The private placement was expected to generate $260 million (before deducting fees to the placement agents). Sana's founder and CEO, Steve Harr, MD, was previously chief financial officer of Juno Therapeutics, helping to build the company and its chimeric antigen receptor (CAR) T cell therapy platform until its $9-billion acquisition in 2018 by Celgene, which in turn was acquired the following year by Bristol-Myers Squibb for $74 billion.īeam Therapeutics said it has sold 2,795,700 shares of its common stock to institutional investors, through a private placement.
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The company's product candidates are all in preclinical development, with Sana setting a goal of filing multiple investigational new drug (IND) applications in 20.
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Sana is developing in vivo and ex vivo cell engineering platforms across a broad array of therapeutic areas with unmet treatment needs, including oncology, diabetes, central nervous system disorders, cardiovascular diseases, and genetic disorders, among others. “Our long-term aspirations are to be able to control or modify any gene in the body, to replace any cell that is damaged or missing, and to markedly improve access to cellular and gene-based medicines,” Sana stated in its IPO prospectus. On February 5, Sana shares climbed further, closing at $39.12. SANA shares opened at $35 a share and reached $38.45 before finishing their first trading day falling to $35.10. The following day, Sana shares began trading on the Nasdaq Global Select Market under the symbol SANA. Sana priced 23.5 million shares on February 3 at $25 per share, above the company's stated pricing range of between $23 and $24 a share. The company estimated net proceeds from the offering at ∼$542.6 million-rising to ∼$624.5 million if underwriters exercise their overallotment option to purchase additional shares in full. Sana Biotechnology, the developer of platforms designed to repair and control genes within cells, as well as replace any cell in the body, has raised $587.5 million through an initial public offering (IPO) that could climb as high as $675.6 million. GENE REPAIR-FOCUSED SANA GARNERS $588M IN INITIAL PUBLIC OFFERING