Italian cancer gene therapy biotech makes history with modest Nasdaq IPO

Italian cancer gene therapy biotech makes history with modest Nasdaq IPO

Source: 
Endpoints
snippet: 

After years of developing its gene therapy for cancer on the outskirts of biotech, Genenta has landed on Nasdaq as the first Italian biotech on the American exchange.

Genenta’s IPO is small compared to what you usually see these days, but the $36 million — or $40 million if all options are exercised — in gross proceeds will allow Pierluigi Paracchi’s crew to take its current proof-of-concept trial to fruition and pave the way to Phase II, fund long-term monitoring of patients, pay for preclinical research and manufacturing, while leaving enough money to run the actual Phase II trial slated to start in 2023 (the business development and admin team also gets some).