Kyverna Therapeutics to raise $319 million in upsized IPO

Kyverna Therapeutics

08/02/2024 04:03

Feb 7 (Reuters) - Gilead-backed Kyverna Therapeutics on
Wednesday said it will raise $319 million at a valuation of
$898.1 million in an upsized U.S. initial public offering (IPO).
    The company said it plans to sell 14.5 million shares at $22
each, higher than its earlier price range of $20-$21 per share. 
    Kyverna, backed by Gilead Sciences  GILD.O  and Bain Capital
Life Sciences Opportunities, is a clinical-stage cell therapy
company that aims to bring disease-modifying therapeutic
benefits to patients suffering from autoimmune diseases.
    Its shares will begin trading on Feb. 8 on the Nasdaq under
the symbol "KYTX".

    

 (Reporting by Shubhendu Deshmukh in Bengaluru; Editing by Sonia
Cheema)
 ((ShubhenduSatish.Deshmukh@thomsonreuters.com;))