IPO Profiles: Six venture-backed companies went IPO in June

IPO Profile: China Online Education Group (51Talk)

Company Details

Shanghai

86-105-692-8909

www.51talk.com

Description: Beijing Dasheng Zhixing Technology Co Ltd is a China-based company principally engaged in the provision of online education training. The Company operates its business through operation of its own brand 51Talk, which provides online English courses including one-to-one talk with foreign teachers and others.

IPO Details

Exchange and Ticker: NYSE: COE

Filing Range:  2.4 million shares at $18 to $20

Offering Price: $19

Price as of 6/10/16: $18.98

Offering Size: $46 million

Shares Outstanding: 19.6 million

Market Capitalization on 6/30/16: $389 million

Price as of 6/30/16: $19.83

Investment Details

Backers

• DCM Ventures
• Sequoia Capital
• Shunwei Capital Partners
• Zhen Fund
• Xianfeng Huaxing Venture Capital Ltd
• Shunwei Capital Partners

Financing Rounds

Date      Amount ($M)    Valuation ($M)

6/28/13                $3M       n/a

12/19/13              $12M     n/a

10/24/14              $55M     n/a

8/31/15                $20M     n/a

IPO Profile: Clearside Biomedical Inc

Company Details

Alpharetta, Ga.

678-270-3631

http://clearsidebio.com/

Description: Clearside Biomedical Inc is a late-stage clinical biopharmaceutical company. The company is developing drug therapies to treat blinding diseases of the eye. The Company’s product candidates are focused on diseases affecting the retina and choroid, especially diseases associated with macular edema, and are injected into the suprachoroidal space (SCS) adjacent to the choroid, using its SCS Microinjector. With the SCS injection, its product candidates are directly administered to the retina and choroid. Its product candidates are CLS-1001, CLS-1003 and CLS-1002. CLS-1001 and CLS-1003 are based on commonly used ophthalmic drugs. Its CLS-1001 program is being developed for the treatment of macular edema associated with non-infectious uveitis. CLS-1001 consists of an SCS injection of Zuprata, its preservative-free formulation of the corticosteroid triamcinolone acetonide (TA), specifically designed to be administered through its SCS Microinjector.

IPO Details

Exchange and Ticker: Nasdaq: CLSD

Filing Range: 4 million shares @ $14 to $16

Offering Price: $7

Close price as of 6/2/16: $7.25

Offering Size: $50.4 million

Shares Outstanding: 19.6 million

Underwriters: Cowen, Stifel Nicolaus & Co Inc

Co-manager: Wedbush Securities, Needham & Co LLC

Company Counsel: Cooley LLP

Manager Counsel: Latham & Watkins

Auditor: Ernst & Young LLP

Market Capitalization on 6/30/16: $137.3 million

Price as of 6/30/16: $7.01

Investment Details

Backers

• Hatteras Venture Partners
• GRA Venture Fund LLC
• Mountain Group Capital LLC
• Rock Springs Capital Management LP
• Aju IB Investment Co Ltd
• RosnanoMedInvest OOO
• UNC Kenan-Flagler Private Equity Fund

Financing Rounds

Date      Amount ($M)    Valuation ($M)

1/5/12   $4M       n/a

1/31/13                $7.3M   n/a

9/15/14                $15.6M n/a

12/8/15                $14.5M n/a

Source: Thomson Reuters data.

IPO Profile: Nanthealth Inc

Company Details

Culver City, Calif.

855-839-8157

http://nanthealth.com/

Description: NantHealth Inc, formerly Nant Health, LLC, is an evidence-based, personalized healthcare company. The company’s systems-based approach to personalized healthcare applies diagnostics tailored to specific molecular profiles of patient tissues and integrates this molecular data in a clinical setting with real-time biometric signal and phenotypic data to track patient outcomes and deliver medicine. It has developed an integrated and adaptive Systems Infrastructure, Knowledge Platform, Provider Platform and Payor Platform known as Comprehensive Learning Integrated NantHealth Intelligent Clinical System, which includes its software, middleware and hardware systems infrastructure that collects, indexes, analyzes and interprets molecular, operational and financial data points derived from various sources. Its Systems Infrastructure includes software, middleware and hardware modules, NantOS, which organize and integrate data streams that form foundation of its adaptive learning system.

IPO Details

Exchange and Ticker: Nasdaq: NH

Filing Range: 6 million shares @ $12:50 to $15:50

Offering Price: $14

Price as of 6/2/16: $18.59

Offering Size: $91 million

Shares Outstanding: 120.7 million

Underwriters: Jefferies LLC, Cowen

Co-manager: FBR Capital Markets Corp, First Analysis Securities, Canaccord Genuity

Company Counsel: Wilson Sonsini Goodrich & Rosati

Manager Counsel: Cooley LLP

Auditor: Ernst & Young LLP

Market Capitalization on 6/30/16: $1509.2 million

Price as of 6/30/16: $12.50

Investment Details

Backers

• Celgene Corp
• Verizon Ventures

Financing Rounds

Date      Amount ($M)    Valuation ($M)

10/24/12              n/a         n/a

5/13/14                $135M  n/a

10/1/14                $320M  n/a

1/12/16                $52.5M n/a

Source: Thomson Reuters data.

IPO Profile: Selecta Biosciences Inc

Company Details

Watertown, Mass.

617-923-1400

www.selectabio.com

Description: Selecta Biosciences Inc is a United States-based clinical-stage biopharmaceutical company. The company is engaged in developing targeted therapies that use immunomodulators encapsulated in nanoparticles to induce antigen-specific immune responses to prevent and treat disease. Its Synthetic Vaccine Particles (SVP) technology is a platform, which is capable of incorporating a range of antigens and immunomodulators for the development of SVP products for either inducing antigen-specific tolerance or activating the immune system. Its pipeline includes programs for various indications, including gene therapy, food allergy and malaria. Its pipeline includes SEL-212, which is a therapeutic enzyme indicated for refractory gout; SEL-070, which is indicated for smoking cessation and relapse prevention, and SEL-701, which is indicated for the treatment of human papillomavirus (HPV)-associated cancer. SEL-212 consists of SVP-Rapamycin co-administered with pegsiticase, its pegylated uricase.

IPO Details

Exchange and Ticker: Nasdaq: SELB

Filing Range: 4.25 million shares @ $14 to $16

Offering Price: $14

Close price as of 6/22/16: $14

Offering Size: $70 million

Shares Outstanding: 17.9 million

Underwriters: UBS Securities Inc, Stifel Nicolaus & Co Inc, Canaccord Genuity, Needham & Co LLC

Company Counsel: Latham & Watkins

Manager Counsel: Cooley LLP

Auditor: Ernst & Young LLP

Market Capitalization on 6/30/16: $250.4 million

Price as of 6/30/16: $13.99

Investment Details

Backers

• Polaris Venture Partners
• Flagship Ventures
• OrbiMed Advisors LLC
• NanoDimension Management Ltd
• Rossiiskaia Korporatsiia Nanotekhnologii GK
• Sanofi-Genzyme BioVentures
• Osage Partners
• Aju IB Investment Co Ltd
• Eminent Venture Capital Corp
• I2Bf Global Ventures

Financing Rounds

Date      Amount ($M)    Valuation ($M)

• 5/2/08 $2.5M   n/a
• 12/19/08 $15.1M n/a
• 3/22/10 $15M     n/a
• 10/27/11 $23.8M n/a
• 4/9/14 $5.3M   n/a
• 8/28/14 $10.4M n/a
• 10/15/14 $9.5M   n/a
• 9/3/15 $38M     n/a

Source: Thomson Reuters data.

IPO Profile: Syros Pharmaceuticals Inc

Company Details

Watertown, Mass.

617-744-1340

www.syros.com

Description: Syros Pharmaceuticals Inc is a United States-based biopharmaceutical company. The company focuses on discovering and developing medicines that control the expression of genes with the aim of treating cancer and other serious diseases. It has a gene control platform that provides the company with lens to identify genes that become dysregulated in diseased cells. Its platform maps gene control circuits in human disease tissue and identifies optimal points of intervention for therapeutics. Its platform identifies genes controlling cell state and disease. Through the construction of gene control maps, molecular targets can be identified in the way that disease driving genes, such as oncogenes has been identified through mutational analysis. Its platform can identify specific patients that respond to these gene control therapies. It is advancing several preclinical programs towards the clinic for the treatment of cancer.

IPO Details

Exchange and Ticker: Nasdaq: SYRS

Filing Range: 4.30 million shares @ $14 to $16

Offering Price: $12.50

Close price as of 6/30/16: $18.15

Offering Size: $50 million

Shares Outstanding: 22.8 million

Underwriters: Cowen, Piper Jaffray Cos

Co-manager: Wedbush Securities

Company Counsel: Wilmer Cutler & Pickering

Manager Counsel: Cooley LLP

Auditor: Ernst & Young LLP

Market Capitalization on 6/30/16: $413.1 million

Price as of 6/30/16: $18.15

Investment Details

Backers

• Polaris Venture Partners
• Flagship Ventures
• Aisling Capital LLC
• Arch Venture Partners LLC
• Alexandria Venture Investments
• Wuxi Healthcare Ventures
• Casdin Capital LLC
• Deerfield Management Company LP

 

Financing Rounds

Date      Amount ($M)    Valuation ($M)

8/15/12                n/a         n/a

4/11/13                n/a         n/a

10/24/14              n/a         n/a

1/12/16                n/a         n/a

Source: Thomson Reuters data.

IPO Profile: Twilio Inc

Company Details

San Francisco, Calif.

415-236-0997

Description: Twilio Inc offers cloud communications platforms. The company enables developers to build, scale and operate real-time communications within software applications. It Programmable Communications Cloud software enables developers to embed voice, messaging, video and authentication capabilities into their applications via its Application Programming Interfaces. The Super Network is its software layer that allows its customers’ software to communicate with connected devices globally. It interconnects with communications networks around the world and continually analyzes data to optimize the quality and cost of communications that flow through its platform. The Programmable Communications Cloud consists of software products that can be used individually or in combination to build rich contextual communications within applications. The Programmable Communications Cloud includes Programmable Voice; Programmable Messaging; Programmable Video; Use Case APIs, and Add-on Marketplace.

www.twilio.com

IPO Details

Exchange and Ticker: NYSE: TWLO

Filing Range: 10 million shares @ $12 to $14

Offering Price: $15

Price as of 6/23/16: $28.79

Offering Size: $150 million

Shares Outstanding: 82.2 million

Underwriters: Goldman Sachs & Co, JP Morgan Securities Inc, Allen & Co Inc, Canaccord Genuity, JMP Securities LLC, William Blair & Co, Pacific Crest Securities Inc

Company Counsel: Goodwin Procter LLP

Manager Counsel: Latham & Watkins

Auditor: KPMG LLP

Market Capitalization as of 6/30/16: $3 billion

Price as of 6/30/16: $36.50

Investment Details

Backers

• Bessemer Venture Partners
• Redpoint Ventures
• Rowe Price Threshold Partnerships
• Fidelity Investment Funds II
• Salesforce Ventures
• Altimeter Capital Management LP
• Union Square Ventures LLC
• DFJ
• 500 Startups
• The Founders Fund

Financing Rounds

Date      Amount ($M)    Valuation ($M)

• 3/2/09 n/a         n/a
• 12/30/09 $3.7M   n/a
• 11/2/10 $12M     n/a
• 8/31/11 n/a         n/a
• 12/7/11 $17M     n/a
• 5/31/12 n/a         n/a
• 5/16/13 $70M     n/a
• 3/2/15 $6.3M   n/a
• 4/24/15 $100M  n/a
• 7/29/15 $130M  n/a

Source: Thomson Reuters data.

Photo of Jeff Lawson, (center) founder, cheif executive and chairman of Twilio, takes a selfie photo during his company’s IPO on the floor of the NYSE in New York City, June 23, 2016 courtesy of Reuters/Brendan McDermid