Immunome, an Exton-based biopharmaceutical company, went public last week and managed to raise $39 million through an upsized initial public stock offering, writes John George for the Philadelphia Business Journal.

Immunome offered 3.25 million shares at $12 per share, which is 370,000 more shares than what was originally anticipated.

During its first trading day, the company saw its share price climb to $14.50 per share.

Immunome was founded 16 years ago. It is led by CEO Purnanand Sarma and has now grown to 21 employees.

The preclinical biotech is working on new ways to treat cancer by boosting a person’s immune system’s ability to recognize and attack tumors. The company also recently started researching its technology for possible COVID-19 treatment options.

Immunome is planning to use the proceeds to advance IMM-ONC-01, its lead oncology program that targets solid cancerous tumors, including prostate, colorectal, and lung cancers. Funds from the IPO will also be made available for the further development of its program targeting COVID-19.

Read more about Immunome in the Philadelphia Business Journal here.

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