The newly minted public company, a clinical-stage provider of cell therapies for cancer and autoimmune diseases, has signed a lease for 60,000 square feet at 800 King Farm Blvd., a roughly 215,000-square-foot office building that Miami-based Banyan Street Capital will convert into office and lab space for life sciences companies. Banyan Street had acquired an ownership stake in 800 King Farm, as well as 700 and 702 King Farm Blvd., in 2020, according to JLL.
Arcellx Announces Closing Of Upsized Public Offering Of Common Stock And Underwriters’ Full Exercise Of Option To Purchase Additional Shares
Arcellx, Inc. (NASDAQ: ACLX), a biotechnology company reimagining cell therapy through the development of innovative immunotherapies for patients with cancer and other incurable diseases, today announced the closing of its upsized public offering of 8,050,000 shares of common stock, which includes the full exercise by the underwriters of their option to purchase an additional 1,050,000 shares of common stock, at a price to the public of $16.00 per share. The aggregate gross proceeds raised in the offering were $128.8 million, before deducting underwriting discounts and commissions and offering expenses, payable by Arcellx. All shares in the offering were offered by Arcellx.
Arcellx took a risk by including more patients with a tougher, more aggressive form of multiple myeloma in an early-stage trial for its CAR-T med. But it doesn’t matter, because “any way you slice” it, the small biotech seems to have put up strong enough data to rival the market-leading therapy by Johnson & Johnson and Legend Biotech.
Maryland-based Arcellx presented the latest on CART-ddBCMA, its BCMA-specific CAR-modified T-cell therapy for multiple myeloma, at the 2022 American Society of Clinical Oncology (ASCO) annual meeting in Chicago on Friday.
The data comes from a phase 1 study of patients with relapsed or refractory multiple myeloma, including 31 eligible for an efficacy and safety analysis who had at least three prior lines of treatment. Out of these patients, 21 had “poor prognostic factors,” including extramedullary disease, which means cancer that has spread to form tumors outside the bone marrow in the soft tissues of the body.
One year after Rami Elghandour joined Arcellx, Inc., a cell therapy company based in Gaithersburg, MD, and Foster City, CA, as the company’s new chairman and CEO, he took the company public, netting $128 million and funding operations into the second half of 2023. If the IPO had occurred in 2020 or 2021, it may not have been all that surprising. Instead, Arcellx completed its IPO in February 2022, a time when key biotech stock indexes continued a precipitous drop that began in the second half of 2021, causing many biopharma companies to delay IPO plans indefinitely.
It wasn’t Elghandour’s first rodeo. In 2011, he led a $58 million Series B financing round for Nevro Corp., a Silicon Valley-based neuromodulation medical device company, representing Johnson & Johnson Development Corporation (JJDC), where he worked as principal, venture investments. In 2012 Elghandour departed JJDC for Nevro, and was promoted to president in 2014, and CEO in 2016. Nevro went public in 2014, completing its IPO with net proceeds of approximately $131 million. The experience of Nevro’s pre-COVID IPO road show, which Elghandour describes as “brutal, but memorable,” was a learning experience. The biggest difference between Nevro’s IPO in 2014 and Arcellx’s IPO…
Last week, we delved into why visual branding is important in helping your life science company stand out from the crowd to attract audiences such as investors and potential talent. We also provided a few tips on how to start thinking about your company’s science and approach differently so that you could create a style that is all your own. With Part 2 of this series, we want to help provide resources and inspiration to up your imagery game.
The BHCR cluster, in particular, includes a host of emerging and established cell and gene therapy companies, as well one of the deepest and most advanced biomanufacturing infrastructures in the U.S. While the cell and gene therapy industry still faces challenges like high manufacturing costs, high cost per dose to patients and complex supply chain issues, this sector remains very healthy and is continuing to grow rapidly in our region and globally.
GAITHERSBURG, Md., Feb. 04, 2022 (GLOBE NEWSWIRE) – Arcellx, Inc. (NASDAQ: ACLX), a biotechnology company reimagining cell therapy through the development of innovative immunotherapies for patients with cancer and other incurable diseases, today announced the pricing of its initial public offering of 8,250,000 shares of common stock at a public offering price of $15.00 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expe
The BHCR has become a burgeoning center for cell therapy development and manufacturing. As a result, a host of cell therapy companies chose to locate themselves within the region to capitalize on its many advantages.
Arcellx, a privately held clinical-stage biopharmaceutical company, announced the addition of Kate Aiken as Chief People Officer. Kate is an accomplished human resources business leader who brings more than 20 years of cross-industry experience, building and managing high caliber HR organizations and partnering with business leaders to support the growth of industry leading companies.
Arcellx, a privately held clinical-stage biopharmaceutical company, today announced that it has hired two new executives to join the company’s leadership team. Dr. Christopher Heery has been named Chief Medical Officer (CMO) where he will have responsibility for clinical, regulatory and medical affairs.