McCullough Robertson’s leading Corporate and Life Sciences team has advised Chimeric Therapeutics (ASX:CHM, “Chimeric”) on its successful IPO.  This follows its $4.3 million pre-IPO funding round, which McCullough Robertson also advised on.

Chimeric is developing cell therapy cancer drugs, known as CAR Ts, with phase one clinical trials underway at the City of Hope Cancer Centre in Los Angeles.  CAR-T is a new technique for fighting cancer, and the technology uses chlorotoxin, a peptide discovered in the venom of the Deathstalker Scorpion.

Chimeric received overwhelming support from investors, raising $35 million via the IPO and closing the offer early due to oversubscriptions as a result of significant demand.

Lead Partner, Reece Walker comments ‘this is the ASX’s first biotech listing of 2021 and it is great to see the year off to a strong start, with Chimeric already seeing its market capitalisation increase significantly as at the commencement of trading.  Congratulations to Paul Hopper and the team at Chimeric!’

View the ASX announcement here.