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Allogene Therapeutics to raise USD 110 million in underwritten offering
Cell & Gene Therapy
May 13, 2024
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Cell & Gene Therapy

Cell & Gene Therapy

May 13, 2024

Allogene Therapeutics to raise USD 110 million in underwritten offering

Funding

  • Allogeneic CAR T therapy developer Allogene Therapeutics has announced the price for an underwritten offering of 37.9 million common shares at a rate of USD 2.90 per share. Mutual funds, large institutional investors, healthcare specialists, and certain members of Allogene's board and executive management team will also participate in the offering.

  • The offering, which is expected to close on or about May 16, 2024, is expected to raise USD 110 million in overall gross proceeds. 

  • Allogene focuses on offering off-the-shelf CAR T therapies. It develops allogeneic chimeric antigen receptor T-cell (AlloCAR T) products to treat cancers and autoimmune diseases. The company leverages multiplex gene-engineering and gene-editing technologies to offer off-the-shelf T-cell therapies designed to be more scalable and cost-effective than autologous counterparts. 

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