UCL spinout Achilles Therapeutics raises $175.5m through initial public offering

Achilles is a biotech company developing new immunotherapies that target the improved treatment of tumours without harming healthy tissue. The UCL spinout was formed in 2016 by Cancer Research UK’s Commercial Partnerships team alongside Syncona, with the support of UCL Business, part of UCL Innovation & Enterprise, and The Francis Crick Institute.

Achilles is founded on the work of Professors Charles Swanton, Sergio Quezada and Karl Peggs (UCL, UCLH and the Francis Crick Institute).

The successful close of Achilles’ Nasdaq initial public offering (IPO) continues UCL’s track record of supporting spinout companies to this investment stage. UCL spinouts have raised a total of over £1.5 billion in external investment. An IPO is the process of tendering shares in a company to raise capital from public investors.

Dr Anne Lane, CEO of UCL Business, said: “We’re delighted to see Achilles Therapeutics announce its successful Nasdaq debut today. This important company milestone marks the fifth IPO that we’ve seen arising from UCL’s research base, in the past three years. It’s a testament to the talented research arising from UCL, and another step towards making advancements in patient care.” 

Read the full story on the UCL News website.

Links

Find out more about:

• Support for UCL staff to create a spinout
• Achilles Therapeutics
• UCL Business
• UCL Cancer Institute
• Cancer Research UK
• The Francis Crick Institute 
• Syncona 

Photo by Jevtic (iStock)