Thursday, October 8, 2015

SoCal Angel Investors See IPO Pop At CytomX

A number of Southern California angel investors are undoubtedly breaking out the champagne this morning, after the successful IPO of CytomX Therapeutics, a developer of cancer therapeutics which was spun out of UC Santa Barbara. Cytomx priced its IPO at $12.00 per share last night, raising $80M for the company, and had surged as high as $17.02 in morning trading. The company was around $14.48, up 20% from its IPO price, mid-day on Wall Street. Cytomx Therapeutics was initially funded by a group of Southern California angel investors, right after the company was launched out of UCSB; the company eventually raised $130M in funding from institutional investors include Third Rock Ventures, Canaan Partners, Roche Venture Fund, Casdin Capital, Cormorant Asset Management, Deerfield Management, Fidelity Management & Research Company, Perceptive Advisors, Pfizer Venture Investments, Redmile Group, Tekla Healthcare Investors, Tekla Life Sciences Investors, Venrock Healthcare Capital Partners and Wellington Management Company. CytomX was founded by UC Santa Barbara professor Patrick Daugherty. The company is now located in South San Francisco.