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October 8, 2021

Branford-based IsoPlexis makes Wall Street debut Friday

PHOTOS | CONTRIBUTED IsoPlexis’ IsoLight platform.
By Michelle Tuccitto Sullo

IsoPlexis Corp., a Branford-based life science technology company, went public on Friday, with its stock initially trading at $15 a share.

The company’s stock is listed on the Nasdaq under the ticker symbol “ISO.”

IsoPlexis, which is headquartered at 35 NE Industrial Road in Branford, was founded by Yale students in 2013. It has developed technology that can help physicians develop personalized treatments for patients, including those with cancer and autoimmune diseases. Researchers analyze individual cells and the proteins they secrete to determine how patients will respond to therapies. The company has also been involved in studying COVID-19 and how it interacts with the immune system.

Its initial public offering, 8,333,000 shares of common stock, was priced at $15 per share, for a total value of some $125 million.

The offering is expected to close on Oct. 12. The company has given underwriters a 30-day option to buy up to an additional 1,249,950 shares of common stock at the initial public offering price.

As of 12:20 p.m. on Friday, the company’s stock was trading at $14 per share.

Sean Mackay, CEO and co-founder of IsoPlexis, said Friday that the years since the company’s launch have been an “incredible journey.”

“We are really excited,” Mackay said. “We were a Yale spinout. We built our tech and our company out of a small Branford-based lab, and today, we are at this place where we have hundreds of folks working for the company, all working hard on a goal of delivering to our customers this unique technology.”

Sean Mackay, CEO and co-founder of IsoPlexis

In July, the company had filed paperwork with the U.S. Securities and Exchange Commission for a $100 million initial public offering.

This past January, it raised $135 million in a Series D round, with much of this going toward its ongoing expansion. According to Crunchbase, the company’s total amount raised to date is $205.5 million.

Fierce MedTech chose IsoPlexis for its 2020 “Fierce 15” list, which includes companies it believes have “big, breakthrough ideas that can move the needle and make a significant impact on patients’ lives.” 

IsoPlexis’ mission is “accelerating the fight against cancer and a range of our toughest diseases by producing the world’s most precise, award-winning detection systems.” Isoplexis’ platform includes instruments and software for the development of advanced medicines, therapies and vaccines. Its technology has been adopted by biopharma companies around the world, and nearly half of the comprehensive cancer centers in the U.S., according to the company.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.

 

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