IO Biotech

• Initial Public Offering on the Nasdaq Global Market, issuing 7,150,000 common shares at a price of USD 14.00 per share, raising c. USD 100 million in gross proceeds (excluding over-allotment option)
• The transaction was upsized by 15% from the initial intended base deal size of 6,500,000 common shares
• The net proceeds are intended to be used for the continued development of IO102-IO103 in the planned Phase 3 trial in first line advanced melanoma, ongoing development of IO102-IO103 in the planned Phase 2 “basket” trials, planned development of IO112, including in a planned Phase 1/2 trial in combination with IO102 and IO103, as well as for other general corporate purposes
• In 2021 year to date, Kempen & Co has already executed 23 transactions for European life sciences companies of which 4 US Nasdaq IPOs

Company description

IO Biotech is a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer therapies based on its T-win® technology platform. The T-win® platform is a novel approach to cancer immunotherapy designed to activate naturally occurring T cells to target immunosuppressive mechanisms. IO Biotech is advancing in clinical studies its lead immuno-oncology candidate, IO102-IO103, targeting IDO and PD-L1, and through clinical and preclinical development its other pipeline candidates. IO Biotech is headquartered in Copenhagen, Denmark

Background Kempen & Co Life Sciences & Healthcare

In the last twelve months, Kempen & Co has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:

• Lead manager in the USD 110 million Global Offering of Merus
• Joint Global Coordinator and Joint Bookrunner in MaaT Pharma’s €31.5 million Euronext IPO
• Co-Manager in the USD 460 million Capital Increase by Ascendis Pharma 
• Joint Bookrunner in the SEK 324 million Capital Increase by Calliditas Therapeutics
• Joint Global Coordinator & Joint Bookrunner in the SEK 380 million Capital Increase by Xbrane Biopharma
• Joint Global Coordinator in the €34.1m Capital Increase by Transgene
• Joint Global Coordinator & Joint Bookrunner in the SEK 141 million Capital Increase by Immunicum
• Lead Manager in the USD 63.8 million Nasdaq Initial Public Offering by Molecular Partners
• Joint Bookrunner in the SEK 301 million Capital Increase by Q-linea
• Co-Manager in the USD 176 million Nasdaq Initial Public Offering by Achilles Therapeutics 
• Joint Bookrunner in the €30.0 million Capital Increase by GenSight Biologics
• Lead Manager in the USD 101 million Nasdaq Initial Public Offering by LAVA Therapeutics
• Joint Bookrunner in the USD 120 million Nasdaq Initial Public Offering by European Biotech Acquisition Corp (EBAC)
• Joint Bookrunner in the SEK 1.11 billion Capital Increase by Oncopeptides
• Joint Global Coordinator and Joint Bookrunner in the SEK 962 million Capital Increase by BioInvent
• Co-Manager in the USD 115 million US Public Offering by Y-mAbs Therapeutics
• Co-Manager in the USD 115 million US Public Offering by Autolus Therapeutics
• Joint Global Coordinator and Joint Bookrunner in the €22.5 million Capital Increase by Sequana Medical
• Co-Manager in the USD 190 million Nasdaq Initial Public Offering by Pharvaris
• Bookrunner in the USD 518 million US Public Offering by CureVac
• Lead Manager in the USD 120 million US Public Offering by Merus 
• Sole Financial Adviser in the sale of Galapagos’ service operation, Fidelta, to Selvita for a total consideration of €31.2 million
• Joint Bookrunner in the SEK 564 million Capital Increase by Cantargia
• Financial Adviser to DCprime in its merger with Immunicum 
• Placement Agent in Investinor’s Secondary Sell-Down of c. 4 million shares in Calliditas Therapeutics