MAVA Member NEA participates in $108M IPO for Surface Oncology

Surface Oncology, a Cambridge, Mass.-based cancer antibody developer, raised $108 million in an IPO of 7.2 million shares priced at $15, the high end of its range. The firm posted $45.4 million in loss on $13 million in revenue for 2017. Atlas Ventures (23%), F-Prime Capital Partners (10%), Lilly Ventures Management Group (16%), Novartis (16%), and New Enterprises Associates (16%) back the firm. Goldman Sachs, Cowen & Company and Evercore ISI are  joint bookrunners in the deal. The firm plans to list on the Nasdaq as “SURF.”

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2018-05-23T09:10:00+00:00May 22nd, 2018|