Arcus Biosciences’ $138 Million Initial Public Offering


Gunderson Dettmer advised Arcus Biosciences on the deal

Arcus Biosciences (NYSE: RCUS), a clinical-stage biopharmaceutical company focused on creating innovative cancer immunotherapies, today announced the pricing of its initial public offering of 8,000,000 shares of common stock at a price to the public of $15.00 per share for total gross proceeds of $120,000,000. The Company has also granted the underwriters a 30-day option to purchase from the Company an additional 1,200,000 shares of common stock at the initial public offering price, less the underwriting discount. The shares are expected to begin trading on the New York Stock Exchange on March 15, 2018 under the symbol “RCUS”. The offering is expected to close on March 19, 2018, subject to customary closing conditions.

Citigroup, Goldman Sachs & Co. LLC and Leerink Partners are acting as joint book-running managers for the offering.

Arcus Biosciences (“Arcus”) is a clinical-stage biopharmaceutical company focused on creating innovative cancer immunotherapies. Arcus was founded in 2015 by Terry Rosen and Juan Jaen, the co-founders of Flexus Biosciences, which was acquired by Bristol-Myers Squibb in 2015 to access Flexus’s IDO inhibitor, which was in preclinical development at the time and is now referred to as BMS-986205.

Gunderson Dettmer advised Arcus Biosciences Marcia A. Hatch (Picture), Heidi E. Mayon, Richard C. Blake, Colin G. Conklin and Cathy Kwon.

Involved fees earner: Marcia Hatch – Gunderson Dettmer; Heidi Mayon – Gunderson Dettmer; Richard Blake – Gunderson Dettmer; Colin Conklin – Gunderson Dettmer; Cathy Kwon – Gunderson Dettmer;

Law Firms: Gunderson Dettmer;

Clients: Arcus Biosciences;

Avatar

Author: Ambrogio Visconti