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Concurrent with IPO, ChemoCentryx privately raises $12mm from GSK and Techne
05 Mar 2012
Executive Summary
At the same time it closed its $41.8mm IPO, ChemoCentryx Inc. (treatments for autoimmune disease, inflammation, and cancer that target the chemokine system) raised $12mm by selling common stock to GlaxoSmithKline PLC and Techne Corp., both existing shareholders, in concurrent private placements. GSK (which had initially acquired a $25mm equity stake in 2006 when the companies partnered on inflammation targets) bought 700k shares while Techne (which first acquired stock in a 1997 agreement) purchased 500k shares, all at the $10 IPO price. GSK and Techne now own 21.7% and 18.3% stakes, respectively, in ChemoCentryx.
Deal Industry
- Pharmaceuticals
-
Biotechnology
- Drug Discovery Tools
Deal Status
- Final
Deal Type
-
Financing
- Private Investment in Public Equity
- Private Placement
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Concurrent with IPO, ChemoCentryx privately raises $12mm from GSK and Techne
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