Zenas BioPharma, Backed by Bristol-Myers Squibb, Files for U.S. IPO

Zenas BioPharma: The biopharmaceutical company, Bristol-Myers Squibb-backed Zenas BioPharma is all set to go public in the United States market.

On Thursday, a regulatory filing reports that the company has filed its IPO papers. Reports also state that there has been a growing interest among investors for new listings.

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The U.S. initial public offering market is currently in the initial stages of a recovery, with the expectation of reduced market volatility and prospective interest-rate reductions.

Zenas BioPharma reported that the company has made $358.3 million from investors since it began.

The company focuses on inflammation and immunology.

The company’s investors are Tellus BioVentures, Fairmount, Norwest Venture Partners, Enavate Sciences, and Bristol-Myers Squibb (BMY.N).

For the six months ending on June 30, the company losses went up to $65.8 million from $48.1 million in a year ago period.

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However, the company hasn’t announced the number of shares that it’s going to issue and the price range.

The company plans that its shares will trade on the Nasdaq Global Market with the code “ZBIO.”

The underwriters are Morgan Stanley, Jefferies, Citigroup, and Guggenheim Securities.

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