SQZ Biotech Shot for $70M-plus IPO on the NYSE to Fund Cell Therapy R&D

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The Wa­ter­town, MA-based biotech ,SQZ Biotechnologies has been listed on the New York Stock Exchange on October 30, 2020 under the ticker symbol “SQZ”. The Pricing of Initial Public Offering is $16.00 per share of 4,411,765 shares. The company has raised $70M to develop its cell therapies.

SQZ (pro­nounced “squeeze”) was formed from the lab of MIT’s Bob Langer in 2013. The founder and CEO, Dr. Armon Sharei, invented the Cell Squeeze® technology during his PhD at MIT. It physically squeezes cells at high speeds through a microfluidic chip, temporarily opening the cell membrane and enabling biologic material of interest, or cargo, to diffuse into the cell before the membrane reseals. This technology allows SQZ to create a broad pipeline of product candidates for different diseases.

 

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From SQZ Company Website

The company has developed three platforms, including that for targeting antigen-presenting cells (APCs), for activating antigen carriers (AACs), and for tolerating antigen carriers (TACs). SQZ’s initial focus areas are oncology, infectious disease, and immune disorders. Pipelines with top pri­or­i­ties include its Roche-part­nered anti­gen pre­sent­ing cell (APC) tech, which is cur­rent­ly in Phase I for HPV and sol­id tu­mors.

Roche began its partnership with SQZ in 2015, That alliance aimed to use the SQZ technology to develop cancer cell therapies based on B cells, a type of immune cell. In 2018, Roche en­tered a $1.37 bil­lion-plus deal to fo­cus the tech­nol­o­gy on im­muno-on­col­o­gy. The biotechs are us­ing the plat­form to de­liv­er anti­gens in­tend­ed to in­duce a storm of CD8 killer cells to fight can­cer. SQZ says it’s been able to process the cells in 24 hours and re­turn them to pa­tients for in­fu­sion in a week.

Viva Ventures Biotech Fund participated in the Series C fundraising of SQZ Biotech in 2018.

Company Website: https://sqzbiotech.com/