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Adaptimmune raises $100M in offering of American depositary shares

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Adaptimmune raises $100M in offering of American depositary shares

Adaptimmune Therapeutics PLC sold 10 million American depositary shares at $10 apiece in a registered direct offering, raising net proceeds of about $100 million.

The U.K.-based biopharmaceutical company will use the proceeds to further develop its pipeline of specific peptide enhanced affinity receptor T-cell candidates through clinical trials.

Adaptimmune is currently developing its drug candidates MAGE-A4, MAGE-A10 and AFP to treat multiple solid tumor indications.

The company will also use a portion of the proceeds for other general corporate purposes.

Matrix Capital Management Co. LP, New Enterprise Associates 16 LP, New Enterprise Associates 14 LP and Syncona Portfolio Ltd. participated in the transaction.