Celyad SA (CYAD) IPO Trades Modestly Lower

Today's IPO for Celyad SA (NASDAQ: CYAD) opened for trading at $67.90 after pricing 1,460,000 new ordinary shares, consisting of 1,168,000 American Depositary Shares at $68.56 per ADS, and 292,000 ordinary shares at a price of EUR 60.25 per share.

UBS Investment Bank and Piper Jaffray & Co. are acting as joint book-running manager, and Petercam SA, Bryan, Garnier & Co., LifeSci Capital LLC and Lake Street Capital Markets LLC are acting as co-managers for the proposed global offering.

Founded in 2007, and based in Belgium, Celyad is a leader in engineered cell therapy treatments with clinical programs initially targeting indications in cardiology and oncology. Celyad is developing its lead cardiovascular disease product candidate, C-Cure®, for the treatment of ischemic heart failure, and has completed enrolment of a Phase III trial in Europe and Israel. In addition, the Company is developing a novel portfolio of CAR T-cell therapies that utilize human Natural Killer cell receptors for the treatment of numerous blood and solid cancers. Its lead oncology product candidate, NKG2D CAR T-cell, entered a Phase I clinical trial in April 2015.

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