Jul 22, 2021
IsoPlexis, a Branford-based biotech that is developing cancer-fighting therapies
BRANFORD — IsoPlexis, a Branford-based biotech that is developing cancer-fighting therapies by using predictive analytics and patient profiles to speed the process, filed with federal securities regulators this week to do a $100 million initial public offering of its stock.
The company made its intentions known in a filing with the federal Securities and Exchange Commission. In its filing, company officials said they “intend to use the net proceeds from this offering for general corporate purposes, including working capital, research and development, sales and marketing activities, general administrative matters, operating expenses and capital expenditure.”
The IPO comes on the heels of an announcement at the start of 2021 that IsoPlexis had received $135 million in financing. When the IPO is complete, the company’s stock will trade on the Nasdaq exchange under the symbol ISO.
At the end of the first quarter of this year, IsoPlexis had 313 employees, including 288 in the United States, according to the company’s filing. IsoPlexis officials were not immediately available for comment on how many employees the company has working in Connecticut.