Achilles Therapeutics logo

Initial Public Offering
on Nasdaq

USD 176 million
Co-Manager
;

Achilles Therapeutics

Co-Manager

Kempen & Co acted as Co-Manager in Achilles Therapeutics’ Initial Public Offering on Nasdaq.

Transaction highlights

  • Initial Public Offering on the Nasdaq Global Market comprising 9,750,000 ADSs at an initial public offering price of USD 18.00 per ADS for total gross proceeds of USD 175.5 million. The underwriters have a 30-day option to purchase up to an additional 1,462,500 ADSs 
  • Achilles Therapeutics intends to use the net proceeds to advance its cNeT programmes for the treatment of solid tumours and the enhancement of its PELEUS bioinformatic platform and its VELOS manufacturing process
  • Kempen & Co, as the sole pan-European life sciences specialist bank in the syndicate, facilitated during bookbuilding in particular the outreach to European specialist as well as generalist investors
  • The Initial Public Offering for Achilles Therapeutics represents Kempen & Co’s first Nasdaq IPO for a UK-based life sciences company, underpinning our ambition to work with innovative life sciences companies across Europe
  • In 2021 year to date, Kempen & Co has already executed 13 equity capital markets transactions for European life sciences companies 

Company description

Achilles Therapeutics is a clinical-stage, biopharmaceutical company developing precision T cell therapies targeting clonal neoantigens: protein markers unique to the individual that are expressed on the surface of every cancer cell. Achilles has two ongoing Phase I/IIa trials, the CHIRON trial in patients with advanced non-small cell lung cancer (NSCLC) and the THETIS trial in patients with recurrent or metastatic melanoma. Achilles uses DNA sequencing data from each patient, together with its proprietary PELEUS™ bioinformatics platform, to identify clonal neoantigens specific to that patient, and then develop precision T cell-based product candidates specifically targeting those clonal neoantigens.

Background Kempen & Co Life Sciences & Healthcare

In the last twelve months, Kempen & Co has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:

  • Joint Bookrunner in the €30 million Capital Increase by GenSight Biologics
  • Lead Manager in the USD 101 million Nasdaq Initial Public Offering by LAVA Therapeutics
  • Joint Bookrunner in the USD 120 million Nasdaq Initial Public Offering by European Biotech Acquisition Corp (EBAC)
  • Joint Bookrunner in the SEK 1.1 billion capital increase by Oncopeptides
  • Joint Global Coordinator and Joint Bookrunner in the SEK 962 million Capital Increase by BioInvent
  • Joint Global Coordinator and Joint Bookrunner in the €22.5 million Capital Increase by Sequana Medical
  • Co-Manager in the USD 115 million US Public Offering by Y-mAbs Therapeutics
  • Co-Manager in the USD 115 million US Public Offering by Autolus Therapeutics
  • Co-Manager in the USD 190 million Nasdaq Initial Public Offering by Pharvaris
  • Bookrunner in the USD 518 million US Public Offering by CureVac
  • Lead Manager in the USD 120 million US Public Offering by Merus 
  • Financial Adviser to DCprime in its merger with Immunicum 
  • Joint Bookrunner in the SEK 564 million Capital Increase by Cantargia
  • Sole Financial Adviser in the sale of Galapagos’ service operation, Fidelta, to Selvita for a total consideration of €31.2 million
  • Placement Agent in Investinor’s Secondary Sell-Down of c. 4 million shares in Calliditas Therapeutics
  • Lead Manager in the USD 95.1 million Nasdaq Initial Public Offering by Galecto
  • Joint Bookrunner in the €31.0 million Capital Increase by Sensorion
  • Bookrunner in the USD 245 million Nasdaq Initial Public Offering by CureVac
  • Co-Manager in the USD 49.0 million US Public Offering by Centogene
  • Joint Bookrunner in the SEK 1.11 billion Capital Increase by Hansa Biopharma
  • Joint Bookrunner in the CHF 80.2 million Capital Increase by Molecular Partners
  • Co-Manager in the USD 690 million US Public Offering by Ascendis Pharma
  • Financial advisor in Immatics’ business combination with Arya Sciences Acquisition Corp, thereby becoming a Nasdaq listed company and securing USD 253 million
  • Joint Global Coordinator and Joint Bookrunner in the €61.8 million Initial Public Offering by Hyloris Pharmaceuticals
  • Joint Bookrunner in the €20.0 million Capital Increase by Oryzon Genomics
  • Joint Global Coordinator and Joint Bookrunner in the SEK 487 million Capital Increase by BioInvent
  • Joint Global Coordinator and Joint Bookrunner in the c. SEK 400 million Capital Increase by Immunovia
  • Co-Manager in the USD 862 million Global Offering by argenx
  • Joint Bookrunner in the SEK 1.41 billion Capital Increase by Oncopeptides

Contact

Jan De Kerpel
Kathrin Erfurth

Transactions