Achilles Therapeutics Announces Closing of $175.5 million Initial Public Offering

Rhea-AI Summary

Achilles Therapeutics (NASDAQ: ACHL) has successfully completed its IPO, raising approximately $175.5 million by offering 9,750,000 American Depositary Shares at $18.00 each. This event marks a significant step for the company as it develops precision T cell therapies targeting clonal neoantigens for treating solid tumors. The offering was managed by major financial institutions including J.P. Morgan and BofA Securities. Proceeds are expected to support ongoing clinical trials.

Positive

• Raised approximately $175.5 million from the IPO.
• Funds will support ongoing Phase I/IIa trials for T cell therapies.

Negative

• None.

LONDON, April 06, 2021 (GLOBE NEWSWIRE) -- Achilles Therapeutics plc (NASDAQ: ACHL), a clinical-stage biopharmaceutical company developing precision T cell therapies to treat solid tumors, today announced the closing of its previously announced initial public offering in the United States of 9,750,000 American Depositary Shares (“ADSs”) representing 9,750,000 ordinary shares, at an initial public offering price of $18.00 per ADS. The gross proceeds to Achilles from the offering were approximately $175.5 million. All ADSs sold in the offering were offered by Achilles.

J.P. Morgan, BofA Securities and Piper Sandler acted as joint book-running managers for the offering. Chardan, Oppenheimer & Co, and Kempen & Co acted as co-managers.

A registration statement relating to these securities became effective on March 30, 2021. The securities referred to in this announcement were offered only by means of a prospectus. Copies of the preliminary prospectus relating to and describing the terms of the proposed IPO can be obtained from the following sources:

• J.P. Morgan Securities LLC, Attention Equity Syndicate Desk, 383 Madison Avenue, New York, New York 10179, or via email: prospectuseq_fi@jpmchase.com;
• BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, or via email: dg.prospectus_requests@bofa.com; or
• Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone: (800) 747-3924, or via email: prospectus@psc.com.
  

About Achilles Therapeutics
Achilles is a clinical-stage, biopharmaceutical company developing precision T cell therapies targeting clonal neoantigens: protein markers unique to the individual that are expressed on the surface of every cancer cell. The Company has two ongoing Phase I/IIa trials, the CHIRON trial in patients with advanced non-small cell lung cancer (NSCLC) and the THETIS trial in patients with recurrent or metastatic melanoma. Achilles uses DNA sequencing data from each patient, together with its proprietary PELEUS™ bioinformatics platform, to identify clonal neoantigens specific to that patient, and then develop precision T cell-based product candidates specifically targeting those clonal neoantigens.

Lee M. Stern – VP, IR & External Communications
+1 (332) 373-2634
l.stern@achillestx.com

Consilium Strategic Communications
Mary-Jane Elliott, Sukaina Virji, Melissa Gardiner
+44 (0) 203 709 5000
achillestx@consilium-comms.com

FAQ

What was the offering price for ACHL's IPO?

The offering price for ACHL's IPO was $18.00 per ADS.

How much did ACHL raise in its IPO?

Achilles Therapeutics raised approximately $175.5 million in its IPO.

Who were the managers of ACHL's IPO?

The IPO was managed by J.P. Morgan, BofA Securities, and Piper Sandler.

What is the focus of Achilles Therapeutics?

Achilles Therapeutics focuses on developing precision T cell therapies for treating solid tumors.

What trials is ACHL currently conducting?

ACHL is conducting the CHIRON trial for NSCLC and THETIS trial for melanoma.