Odyssey Therapeutics priced an initial public offering that raised $279 million after a more than year-long process, marking the second attempt to access public markets. The autoimmune disease drug developer plans to begin trading on Nasdaq under the ticker ODTX. The company’s IPO priced at $18 per share on the sale of 15.5 million shares, and Odyssey also added another $25 million via a concurrent private stock sale at the same price. Management is led by Gary Glick, a biotech veteran whose prior startups were acquired. The transaction adds another datapoint for a improving biotech funding environment, with investors looking for execution and data catalysts as deal sizes rebound.
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