Adaptive Biotechnologies Files to Go Public

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Seattle based Adaptive Biotechnologies has filed for its initial public offering, and seeks to raise $230 million from investors.

The biotech startup has raised more than $400 million in recent years to develop its technology to read the human immune system.

AB was formed in 2009 by Chad and Harlan Robins, and has more than 340 people currently on staff. The largest shareholders in the startup is Viking Global Entities with 36% share of the company, and Matrix Capital Management coming in second with 16% percent.

According to its S-1 public filing, AB posted a net loss of $46.4 million in 2018 on revenues of $55 million.

Financial institutions underwriting the IPO are Goldman Sachs, JP Morgan, BofA Merrill Lynch, Cowen, Guggenhiem Securities, BTIG and William Blair. The company will trade under the Nasdaq market with the proposed ticker symbol, “ADPT”.  No information on how many shares of AB will be available to purchase.

The following is AB’s financial data. Click here for the company’s S-1, prospectus.

Image credit: Adaptive Biotechnologies

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