Adaptive Biotechnologies Files for $230 Million IPO

May 31, 2019

Seattle based, Adaptive Biotechnologies, has filed for a $230 Million IPO. The company currently offers tools for monitoring several cancer types, sequencing immune system components, and aiding drug discovery. The filing does not yet specify the number of shares to be offered. Adaptive has filed to trade on NASDAQ under the symbol, "ADPT."

Adaptive works with over 125 biopharmaceutical partners in over 150 trials per year. The company's immune medicine platform applies their proprietary technologies to read the diverse genetic code of a patient’s immune system and understand precisely how it detects and treats disease in that patient.

Adaptive is developing new tools for cancer detection and monitoring. They have also partnered with Genentech to leverage the capabilities of their TruTCR process for drug discovery. The company expects that the collaboration will result in an IND submission to the FDA in fourth quarter of 2020.

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