GlobeImmune's $69M IPO designed to build immunotherapy pipeline

GlobeImmune is hoping to ride the new wave of enthusiasm over immunotherapies to a successful IPO designed to raise up to $69 million.

The biotech's Tarmogen--Targeted Molecular Immunogens--platform has spawned four new drug development programs, including the lead drug GI-4000 for pancreatic cancer and GI-5005 for chronic hepatitis C infection. Celgene and Gilead are each partnered on different programs at GlobeImmune, which was a 2008 Fierce 15 winner.

The Louisville, CO-based biotech wants to use some of the cash injection to scale up its manufacturing operations to cover clinical drug supplies as well as eventual commercial quantities. The biotech uses genetically modified recombinant yeast to rouse the immune system, spurring a T-cell attack on cancer and hepatitis.

Typically, a money-losing biotech with risky development programs has found it tough going on Wall Street, which has little appetite for the kind of heavy risks presented by drug development. But Tesaro recently bucked the trend. And GlobeImmune could find some growing eagerness around the improved reputation that immunotherapy has in Big Pharma circles.  

- here's the S-1 filing
- get the story from the Wall Street Journal

Special Report: GI-4000 - 10 Promising Therapeutic Vaccines