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    Home > Active Ingredient News > Drugs Articles > Nextcure founded by Chen Liping plans to raise $86 million to apply for IPO on NASDAQ

    Nextcure founded by Chen Liping plans to raise $86 million to apply for IPO on NASDAQ

    • Last Update: 2019-04-15
    • Source: Internet
    • Author: User
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    On April 12, 2019, nextcure, a biotechnology company focusing on tumor immunotherapy development, submitted an IPO application to the SEC, with a proposed capital raising of no more than US $86 million Morgan Stanley, BofA Merrill Lynch and Piper Jaffray are the joint underwriters of this IPO Nextcure was founded by Dr Chen Liping, Professor of immunobiology and dermatology at Yale University Dr Chen is a pioneer of tumor immunology His team has found many new immune related targets, including the first cloning and discovery of the immunosuppressive function of PD-L1 (B7-H1) Nextcure completed the US $67 million round a financing in early 2016; reached a US $40 million cooperation agreement with Lilly in November 2018 (received US $25 million in advance and US $15 million in equity investment from Lilly); and completed the US $93 million round B financing in the following week Nextcure has set up a find-io TM technology platform with independent intellectual property rights This technology can identify new cell surface protein interactions, especially new target proteins that drive immune response Based on this technology, nextcure can find new targets of immunotherapy more efficiently, and develop innovative drugs to treat tumors, autoimmune diseases, nervous system diseases, etc Nc318 is an S15 antibody S15 is a new immune regulatory target, which is expressed in a limited group of bone marrow cells and some types of tumor cells (including lung cancer, ovarian cancer and head and neck cancer) in tumor microenvironment, and negatively regulates T cell function Nc318 reduces immunosuppression and normalizes immune response by blocking S15 S15 regulates immunosuppression in a way independent of PD-1 / PD-L1 pathway, so nc318 may have the potential to treat PD-L1 negative patients.
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