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Relay passes the baton from private to public biotech, making $400M in the process

July 16, 2020


Fierce 15 winner Relay Therapeutics has pulled off a major upsized IPO worth $400 million to propel a pipeline of treatments aiming at previously undruggable targets.

The $400 million figure is a lucky one for the biotech, given it’s also the exact amount it raised in a series C. That figure is, in fact, an upsized amount: It had originally priced 14.7 million shares at $16 to $18, but this week offered 20 million shares at $20, above the upwardly revised range of $18 to $19.

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