(Reuters) – Gilead-backed Kyverna Therapeutics on Wednesday said it will raise $319 million at a valuation of $898.1 million in an upsized U.S. initial public offering (IPO).
The company said it plans to sell 14.5 million shares at $22 each, higher than its earlier price range of $20-$21 per share.
Kyverna, backed by Gilead Sciences and Bain Capital Life Sciences Opportunities, is a clinical-stage cell therapy company that aims to bring disease-modifying therapeutic benefits to patients suffering from autoimmune diseases.
Its shares will begin trading on Feb. 8 on the Nasdaq under the symbol “KYTX”.
(Reporting by Shubhendu Deshmukh in Bengaluru; Editing by Sonia Cheema)
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