Newsletter Desktop Newsletter Mobile

Philadelphia-based Cabaletta Bio has filed to go public on the Nasdaq stock exchange under the ticker symbol of CABA. The expected offering amount is $100 million.

The company will use the money to fund manufacturing capabilities and translational research to complement its relationship with the Center for Cellular Immunotherapies at the University of Pennsylvania.

Previously, the company raised $50 million of Series B venture funding from Tavistock Group, 5AM Ventures and Deerfield Management on January 3, 2019, putting the company's pre-money valuation at $147 million. Adage Capital Management, Redmile Group and Cormorant Capital also participated in the round.

Cabaletta Bio is a developer of T cell-based therapies designed to treat B cell-mediated autoimmune diseases.