Replies to post #165311 on Biotech Values

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Fate Therapeutics, founded by stem cell experts, targets $69M IPO

August 14, 2013 | By Ryan McBride

Another day, another cash-hungry biotech company seeking an initial public offering. San Diego-based Fate Therapeutics has become the latest drug developer to toss its hat in the IPO ring, aiming to score as much as $69 million, the company said in an SEC filing.

Fate launched in 2007 with a lot of fanfare in biotech circles, in part because of its plans to harness the power of adult stem cells to treat diseases rather than tapping controversial embryonic stem cells for therapeutic purposes. And a bevy of stem cell experts from around the country, including Harvard Medical School's Dr. Leonard Zon, signed on as scientific founders.

Six years later, the startup has advanced its research to midstage clinical development. Its lead product, ProHema, uses modified umbilical cord blood to speed engraftment of the transplanted cells and restore immune functions faster in patients. The company has shown some evidence of efficacy in an early clinical trial in patients with blood cancers. Other programs in the works include treatments for patients with lysosomal storage disorders and muscular dystrophies.

Fate, which wants to be listed on the Nasdaq under the ticker "FATE," wrapped up the quarter ending June 30 with an accumulated deficit of $74.7 million and cash and equivalents of $3.4 million, according to the SEC filing. So the IPO would give the old balance sheet a nice boost. The company is also seeking the FDA's approval for an amendment to its manufacturing process for ProHema, which prompted the company to delay enrollment in a Phase II study. The company aims to resume enrollment next year.

http://www.fiercebiotech.com/story/fate-therapeutics-founded-stem-cell-experts-targets-69-million/2013-08-14#ixzz2bx89lpqq

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FATE: Orphan disease biotech Fate Therapeutics sets terms for $60 million IPO
9/3/13

Fate Therapeutics, a clinical-stage biotech developing stem cell treatments for orphan diseases, announced terms for its IPO on Tuesday. The San Diego, CA-based company plans to raise $60 million by offering 4.0 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Fate Therapeutics would command a market value of $219 million.

Fate Therapeutics, which was founded in 2007 and booked $2 million in collaboration and grant revenue for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol FATE. Fate Therapeutics initially filed confidentially on June 20, 2013. Cowen & Company and BMO Capital Markets are the joint bookrunners on the deal.

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FATE roadshow presentation...
http://www.retailroadshow.com/sys/launch.asp?qv=7946233907714486&k=51907998454