Cabaletta Bio (CABA) to Raise $87 Million in IPO

Cabaletta Bio (CABA) is planning to raise $87 million in an IPO on Friday, October 25th, IPO Scoop reports. The company plans to issue 5,800,000 shares at $14.00-$16.00 per share.

The company has a market-cap of $338.3 million.

Morgan Stanley, Cowen and Company and Evercore Group served as the underwriters for the IPO.

Cabaletta Bio provided the following description of their company for its IPO: ”  We are a clinical-stage biotechnology company focused on the discovery and development of engineered T cell therapies for B cell-mediated autoimmune diseases. Our proprietary technology utilizes chimeric autoantibody receptor, or CAAR, T cells that are designed to selectively bind and eliminate B cells that produce disease-causing autoantibodies, or pathogenic B cells, while sparing normal B cells. Our lead CAAR T cell product candidate was designed based on chimeric antigen receptor, or CAR, T cell technology that has been successfully developed and is marketed for the treatment of B cell cancers. “.

Cabaletta Bio was founded in 2017 and has 20 employees. The company is located at 2929 Arch Street, Suite 600, Philadelphia, PA 19104, US and can be reached via phone at (267) 759-3100 or on the web at http://www.cabalettabio.com.

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