On September 20, 2019, the Mountain View, California-based biotechnology company IGM Biosciences announced the closing of its initial public offering of 12,578,125 shares of its common stock at a price to the public of $16 per share, which includes the exercise in full by the underwriters of their option to purchase up to 1,640,625 additional shares. The shares began trading on The Nasdaq Global Select Market on September 18, 2019, under the ticker symbol “IGMS." Wilson Sonsini Goodrich & Rosati represented IGM Biosciences in the offering.

IGM Biosciences received gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, of approximately $201.3 million. Jefferies, Piper Jaffray, Stifel, and Guggenheim Securities acted as joint book-running managers for the offering.

IGM Biosciences takes its name from Immunoglobulin M (IgM), a class of antibodies that are naturally produced by the human immune system. The company is focused on creating and developing engineered IgM antibodies for the treatment of cancer patients. Since 2010, IGM Biosciences has worked to overcome the manufacturing and protein engineering hurdles that have limited the therapeutic use of IgM antibodies and created a proprietary IgM technology platform for the development of IgM antibodies.

The Wilson Sonsini team representing IGM Biosciences in the offering included partners Kenneth Clark, Tony Jeffries, and Jennifer Knapp and associates Christina Poulsen, Anna Mascoli, Joe Milner, Alex Kwok, and Alex Weber.

For more information, please see IGM Biosciences' press release.