IO Biotech, Inc.

General Information
Business:

We are a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer therapies based on our T-win technology platform. Our product candidates are designed to induce the immune system to simultaneously target and disrupt multiple pathways that regulate tumor-induced immunosuppression. We believe this represents a paradigm shift in the management of cancer and that our product candidates have the potential to become cornerstones of the treatment regimens of multiple solid tumors.

Our lead product candidate, IO102-IO103, is designed to target the immunosuppressive mechanisms mediated by key immunosuppressive proteins such as Indoleamine 2,3-dehydrogenase (IDO) and programmed death ligand (PD-L1). In a single-arm Phase 1/2 clinical trial (the MM1636 trial) of 30 patients with metastatic melanoma. IO102-IO103, in combination with nivolumab, demonstrated an ability to induce meaningful tumor regression and establish durable antitumor response while achieving a manageable tolerability profile for patients.  Based on this trial’s results, IO102-IO103, in combination with pembrolizumab, was granted Breakthrough Therapy Designation (BTD) by the U.S. Food and Drug Administration (FDA) to treat unresectable/metastatic melanoma. We are planning a potentially registrational Phase 3 trial for IO102-IO103 in combination with pembrolizumab.

(Note: IO Biotech, Inc. priced its IPO on Nov. 4, 2021, at $14 – the bottom of its $14-to-$17 price range – and priced more shares – 7.15 million shares, up from 6.5 million in the prospectus – to raise $100.1 million.)

Industry: PHARMACEUTICAL PREPARATIONS
Employees: 19
Founded: 2014
Contact Information
Address Mai-Britt Zocca Ole Maaløes Vej 3 DK-2200 Copenhagen N Denmark
Phone Number +45 7070 2980
Web Address http://www.iobiotech.com/
View Prospectus: IO Biotech, Inc.
Financial Information
Market Cap $398.82mil
Revenues $0 mil (last 12 months)
Net Income $-51.5 mil (last 12 months)
IPO Profile
Symbol IOBT
Exchange NASDAQ
Shares (millions): 7.2
Price range $14.00 - $14.00
Est. $ Volume $100.1 mil
Manager / Joint Managers Morgan Stanley/ Jefferies/ Cowen
CO-Managers Kempen & Co.
Expected To Trade: 11/5/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change