Adaptimmune Therapeutics (ADAP) Files $150M IPO

Adaptimmune Therapeutics plc (Nasdaq: ADAP) filed a registration with the U.S. SEC for an IPO of its American Depositary Shares (ADSs). The proposed maximum offering price is $150 million. The company plans to list on the Nasdaq under the ticker, ADAP.

Underwriters on the offering are BofA Merrill Lynch, Cowen and Company, Leerink Partners, and Guggenheim Securities.

Adaptimmune Therapeutics is a clinical-stage biopharmaceutical company focused on novel cancer immunotherapy products based on our T-cell receptor platform.

The company offered additional information: Our lead program is an affinity-enhanced TCR therapeutic targeting the NY-ESO-1, or NY-ESO, cancer antigen. We are conducting Phase 1/2 clinical trials for our NY-ESO TCR therapeutic candidate, in patients with solid tumors and hematological malignancies including synovial sarcoma, multiple myeloma, melanoma, ovarian cancer and esophageal cancer. As of February 28, 2015, we had administered our NY-ESO TCR therapeutic candidate to 44 patients across several cancer indications. In both synovial sarcoma and multiple myeloma, we have seen responses and preliminary evidence of tumor reduction in patients with highly refractory cancers. In our synovial sarcoma trial, as of February 28, 2015, 10 patients had received our NY-ESO TCR therapeutic candidate and of these, six patients had responded, with one complete response (before relapse at nine months) and five partial responses. Of the patients with a partial response, the first three patients subsequently underwent resection for residual disease and one of those three patients has remained without evidence of any disease as of February 2, 2015. Results from the multiple myeloma trial following autologous stem cell transplant, or auto-SCT, showed a 59% complete or near complete response rate at 100 days post-administration in 22 patients with active disease at the time of transplant. The NY-ESO engineered T cells have persisted in the myeloma trial for six months in all but one patient and, in a subset of patients, for two years following administration. In addition, based on our clinical data to date, we believe our NY-ESO TCR therapeutic candidate has a promising tolerability profile.

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