SQZ Biotechnologies Co. filed for an IPO of its common stock to raise up to $75 million on the New York Stock Exchange.
The Watertown, Mass.-based biotech, which develops cell therapies for cancer, infectious diseases and other serious conditions, intends to use the symbol SQZ on the exchange.
SQZ Biotechnologies uses its proprietary technology Cell Squeeze to create a pipeline of experimental products for various diseases.
The company intends to use the net proceeds from the offering to fund the clinical development of its experimental therapies, including the cancer vaccine SQZ-PBMC-HPV and SQZ-AAC-HPV, both of which are designed for human papillomavirus-positive tumors. The company also seeks to use the funds for studies of its infectious disease program using its SQZ APC platform, as well as for the development of other experimental therapies.
The SQZ APC platform for cancer is being developed as a part of the company's collaboration with Roche Holding AG since 2015.
Proceeds may also be used for working capital and other general corporate purposes.
The company is led by its founder, Armon Sharei, who has been CEO since January 2015 and a board member since March 2013. He was the lead inventor of the company's core technology.
Principal stockholders of the company include entities affiliated with Polaris Partners, Elbrus Investments Pte. Ltd. and AIG DECO Fund I LP.
BofA Securities Inc., Stifel Nicolaus & Co. Inc., and BTIG LLC are the underwriters of the offering.