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Fate Therapeutics to raise $150M for cancer-related clinical trials

Fate Therapeutics Inc. said it is looking to raise $150.5 million via an underwritten public offering of ordinary shares.

The San Diego-based biotechnology company, which develops programmed cellular immunotherapies for cancer, is selling 8.6 million shares at $17.50 each.

Jefferies, Citigroup, SVB Leerink and Wells Fargo Securities are acting as joint book-running managers for the offering, while Wedbush PacGrow and Cantor Fitzgerald & Co. are acting as co-managers.

The offering is expected to close around Sept. 16. Underwriters will get a 30-day option to buy up to an additional 1,290,000 shares.

The company will use the funds to advance its product candidates to treat cancer.