October 7, 2022

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Sana Biotechnology’s IPO: Listing of early buyers and executives who personal stock

3 min read
  • Seattle-based Sana Biotechnology has filed to go community. 
  • The mobile and gene therapy startup is not going to launch its scientific trials for at the very least a calendar year.
  • Observed daily life sciences investors Flagship Groundbreaking and Arch Enterprise Associates have been its most important shareholders pre-IPO.
  • Visit Business Insider’s homepage for more tales.

Mobile and gene enhancing startup Sana Biotechnology has submitted to go general public. 

From the minute it filed its S-1 document with the Securities and Trade Fee in January, Sana’s inventory sector start has been anticipated to be one of the largest in the market.

Sana became the landing pad for various prime Juno Therapeutics executives, leading at least 1 analyst to refer to the corporation “Juno 2..” Celgene acquired Seattle-based Juno 3 years ago in a $9 billion deal, soon after which position Steven Harr, Hans Bishop and other Juno veterans started operating with Flagship Groundbreaking to build Sana.  

The startup elevated a mammoth $700 million in its first two funding rounds, which had been among the the 20 premier specials produced by a privately held biotech business in the US, according to information heading back to 2002 from Pitchbook. 

Its investors include Arch Enterprise Associates,  Flagship Groundbreaking and F-Key Money, as effectively as the Canadian Pension Fund. Sana’s main govt and two board associates round out the startup’s top rated shareholders. 

Minor was recognised about the company’s science or its illness targets before the IPO. That’s attribute of businesses backed by Flagship, a enterprise fund recognised for quietly starting biotech businesses. The Cambridge, Massachusetts-dependent firm now has close to a dozen organizations in improvement right after boosting a $1.1 billion fund past April. It launches around six to eight new startups a 12 months in fields ranging from the microbiome to reproductive wellbeing.

1 of its greatest promises to fame is COVID-19 vaccine leader Moderna, which Flagship’s CEO Noubar Afeyan co-founded and was the greatest solitary shareholder in ahead of its 2018 IPO. 

“In the circumstance of Flagship corporations — you appear at Rubius, you appear at Moderna and now Sana — all of their companies are commonly very well-guarded, in phrases of what is disclosed,” Pitchbook analyst Joshua Chao informed Insider.

By likely general public, Sana opens the doors on personal facts about its finances, but also its corporate technique. The business has extensive-reaching plans in the cell and gene therapy realms, with programs to launch five scientific trials of cancer, coronary heart failure, diabetes and other conditions. The to start with of those trials isn’t slated to start out until finally upcoming calendar year, at the earliest. 

Read a lot more: Here are the 5 important takeaways from Sana’s IPO filing

In its submitting, Sana shown its shareholders and their stakes:

  • Arch Enterprise Companions, a lifetime sciences venture cash business, owns 27.5% of Sana heading into the IPO, or 176.2 million shares. 
  • Flagship Pioneering, a venture funds firm recognised for creating organizations like Moderna, has a 21.4% stake or 137 million shares.
  • CPP Investment Board, a subsidiary of the Canada Pension Program, held 5.8% possession of Sana, or 37.5 million shares. 
  • Steven Harr, Sana’s chief government, has 5.6% of the firm’s stock, or 36 million shares. 
  • F-Primary Money, a healthcare and know-how-targeted undertaking cash firm, owns 5.1% of Sana heading into the IPO, or 32.7 million shares.
  • Hans Bishop, the chairman of Sana’s board, owns 3.6% of the biotech, or 23 million shares. 
  • Richard Mulligan is a Sana board member and Harvard Healthcare College genetics professor. Mulligan has a 1.9% stake, or 12 million shares, heading into the IPO. 
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