GlobeImmune scrubs plan to launch IPO
Last Updated: 15:45 October 31, 2013
The Louisville-based company did not give further details in a document filed with the U.S. Securities and Exchange Commission this week. A spokesman did not immediately return a request for comment. GlobeImmune is developing therapeutic drugs to treat pancreatic cancer and Hepatitis B and C, among other research projects.
GlobeImmune said an IPO would have created “discretionary financing” for the company, according to the SEC document. The company said in July 2012 that it planned to raise $75 million to build a manufacturing facility and to do drug research.
The company’s drug products for cancer and infectious diseases are based on its proprietary Tarmogen platform, according to SEC documents. Tarmogens activate a patient’s immune system by stimulating a group of white blood cells called T cells, which destroy infected or malignant cells in the body, according to the documents.
GlobeImmune’s lead pancreatic cancer drug is undergoing clinical trials required by the U.S. Food and Drug Administration before a drug can be marketed and sold commercially. Altogether, GlobeImmune has four Tarmogen-based products going through five clinical trials.
The company received $17.5 million in venture capital funding in 2010 and $13 million in 2009.
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