The region’s robust fundraising in the life sciences sector continues as two Philadelphia-based biotechnology companies recently announced initial public offerings.
Century Therapeutics, Inc. announced the closing of its initial public offering valued at $242.7 million on June 22. The company is utilizing a comprehensive cell therapy platform to develop transformative allogeneic cell therapies. Century Therapeutics’ genetically engineered, iPSC-derived iNK and iT cell products are designed to specifically target hematologic and solid tumor cancers. “We believe our commitment to developing off-the-shelf cell therapies will expand patient access and provides an unparalleled opportunity to advance the course of cancer care,” the announcement stated. Century Therapeutics’ Philadelphia office is located in uCity Square’s innovation and discovery space at 3675 Market Street.
Castle Creek Biosciences, Inc., a clinical-stage cell and gene therapy company located in Exton, Pa., filed for a $100 million IPO on July 16. The company is focused on developing and commercializing disease-modifying therapies for patients with rare diseases, such as dystrophic epidermolysis bullosa (DEB) and localized scleroderma. Castle Creek uses its proprietary, autologous fibroblast technology platform to develop D-Fi (debcoemagene autoficel), an investigational gene therapy for the localized treatment of wounds in DEB, and FCX-013, an investigational gene therapy for the treatment of localized scleroderma.
To read more about the IPO announcements, please see these articles that appeared in the Philadelphia Business Journal: