CHAPEL HILL, NC – Chapel Hill drug development company Heat Biologics has filed to go public, joining a slew of companies such as Quintiles (NYSE: Q), Liposcience (Nasdaq: LPDX), PlyGem and Chimerix (Nasdaq: CMRX) to take the plunge in 2013.
The small company, characterized as an “emerging growth” business under the JOBS Act plans to raise about $20 million in the offering and trade on Nasdaq under the symbol “HEAX.”
Heat’s technology platform aims to trigger a patient’s own cells in fighting cancer — an alternative to side effect-heavy chemotherapy.
The company has virtually no revenue, and its primary investors include Brightline Ventures (19.6 percent ownership), Eckhard Podack (7.3 percent), Orion Holdings (19.6 percent) and Seed-One Holdings (15.1 percent). Square One Bank holds virtually all the assets of the company excluding the intellectual property rights.
Heat CEO Jeff Wolf owns nearly 38 percent of the company. The sole book running manager is Aegis Capitol Corp.