Adaptive updated their IPO filing on 6/26/19 and raised their potential raise to $327 million from $230 million listed in their original filing. The company currently offers tools for monitoring several cancer types, sequencing immune system components, and aiding drug discovery.
The company estimates that the net proceeds will be between $253.9 and $292.6 million. The company expects to use the net proceeds from this offering primarily to fund commercial and marketing activities associated with their clinical products and services, continued research and development for their drug discovery initiatives and ongoing investments in their TCR-Antigen Map related activities. They expect to use the remainder, if any, to scale their laboratory operations with our anticipated growth, for working capital and for other general corporate purposes.
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.