Adaptimmune Therapeutics (ADAP) IPO Opens Up 13%

Today's IPO for Adaptimmune Therapeutics plc (Nasdaq: ADAP) opened for trading at $19.25 after pricing 11,250,000 American Depositary Shares (ADSs) at a price to the public of $17.00 per ADS.

BofA Merrill Lynch, Cowen and Company and Leerink Partners LLC are acting as joint book-running managers and Guggenheim Securities is acting as lead manager for the offering.

Adaptimmune is a clinical stage biopharmaceutical company focused on novel cancer immunotherapy products based on its T-cell receptor platform. Established in 2008, the company aims to utilize the body's own machinery – the T cell – to target and destroy cancer cells by using engineered, increased affinity T cell receptors (TCRs) as a means of strengthening natural patient T cell responses. Adaptimmune's lead program is an affinity enhanced TCR therapeutic targeting the NY-ESO cancer antigen. Its NY-ESO TCR therapeutic candidate has demonstrated signs of efficacy and tolerability in Phase 1/2 trials in solid tumors and in hematologic cancer types. In June 2014, Adaptimmune announced that it had entered into a strategic collaboration and licensing agreement with GlaxoSmithKline for the development and commercialization of the NY-ESO TCR program. The Company currently has over 100 employees.

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