Novo Holdings and Lundbeckfonden Portfolio Company IO Biotech Closes Initial Public Offering on the Nasdaq Global Market
- Incubated and supported by Denmark’s largest biotech investors, Lundbeckfonden and Novo Holdings
- Lundbeckfonden co-led the Series A financing in 2015 together with Novo Holdings, and is the largest shareholder
- Novo Holdings created and launched IO Biotech with first seed investment in 2015
Copenhagen, Denmark – 9 November 2021 – Novo Holdings, a leading international life science investor, and Lundbeckfonden, one of Denmark’s largest commercial foundations funding biomedical sciences research, today note the update from portfolio company IO Biotech Inc. (“IO Biotech”), a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer therapies based on its T-win® technology platform. IO Biotech announced the closing of its Initial Public Offering (IPO) of 8,222,500 shares of common stock at a public offering price of $14.00 per share, for gross proceeds of $115.1 million, after deducting underwriting discounts and offering expenses. The shares are trading on the Nasdaq Global Market under the ticker symbol “IOBT.”
