Zenas BioPharma raises $225 million in US IPO

Published: 2024-09-12 22:48:31 ET BMY

(Reuters) - Zenas BioPharma, which is developing immunology-based therapies, said on Thursday it has raised $225 million in its U.S. initial public offering.

The clinical-stage company, backed by drugmaker Bristol-Myers Squibb , priced its offering of 13.2 million shares at $17 each, midpoint of its targeted range of $16 to $18 per share.

(Reporting by Rishabh Jaiswal and Pritam Biswas in Bengaluru; Editing by Tasim Zahid)