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Biotechnology / Investing

Rockville biotech firm MacroGenics files for IPO

The company filed for a $60 million initial public offering on Sept. 4.

Rockville-based biotech company MacroGenics filed for a $60 million initial public offering on Sept. 4.
The Washington Business Journal reports:

MacroGenics, a clinical-stage biotech focused on oncology, said it would use the proceeds to fund clinical development for margetuximab (also known as MGAH22) — currently in mid-stage trials for metastatic breast cancer and gastroesophageal cancer — and a second product, MGA271. Both are monoclonal antibodies. The cash from the IPO would also go toward advancing MacroGenics’ early-stage pipeline.

In August, another Maryland-based biotech firm, Intrexon Corp., filed for an initial public offering, and raised $160 million in the process.

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