Jul. 6 at 4:26 PM
$IMAB Let’s not forget that Novabridge (Imab) owns about 12.2% of TJ Biopharma, and if every milestone is achieved, TJ Biopharma would owe Novabridge the full
$80 million plus future royalties, to Novabridge.
TJ will go public at sometime. Novabridge share of IPO with current ownership could be
$122-183 million based on potential ipo valuation of 1-1.50 billion.
The recent Biogen transaction to TJ may actually improve TJ's IPO prospects substantially. Receiving a
$100 million upfront payment and retaining eligibility for up to
$750 million in additional milestones is exactly the type of financing event that IPO investors like to see—it validates one of TJ's lead assets while reducing financing risk.