A portfolio company of Nina Kjellson, Melissa McCracken and Bihua Chen’s Cormorant Asset Management files to go public

From our Women's PE Briefs - week commencing August 23, 2021

Like Comment

A portfolio company of Nina Kjellson, Melissa McCracken and Bihua Chen’s Cormorant Asset Management files to go public

A portfolio company of Canaan PartnersNina Kjellson, Nextech Invest’s Melissa McCracken and Bihua Chen’s Cormorant Asset Management files to go public. Tyra Biosciences is seeking to raise $100 million and list on Nasdaq under the symbol TYRA. The IPO filing comes some four months after Nextech led Tyra’s $106 million Series B round which saw Melissa join its board. Other investors in that Series B round included Cormorant, BVF Partners, Janus Henderson Investors, Logos and returning investors Canaan, Alta Partners, RA Capital Management and Boxer Capital of Tavistock Group.

RA and Boxer are the largest shareholders with 19.9 percent stakes. Canaan owns 14.6 percent prior to the IPO and Nextech 6.3 percent.

Canaan previously led Tyra’s $50 million Series A round – a round which saw Nina join the company’s board. Tyra’s board also includes Gilla Kaplan, who was formerly at the Gates Foundation, Rockefeller University and Celgene.

Based in Carlsbad, Calif., Tyra is focused on developing compounds targeting drug resistant cancer cells. It is looking to discover and develop new small molecule therapies targeting acquired resistance in oncology. The company is seeking to address a major issue in fighting cancer: the fact that patients often become drug resistant to targeted therapies.

Nina, a general partner with Canaan, is on the boards of PACT Pharma, Tizona Therapeutics, Inc., Vineti, Inc., Trishula Therapeutics and Welltok, Inc.

A principal with Nextech, Melissa is an observer on the board of IconOvir. She joined Nextech from Third Rock Ventures in 2019.

Cormorant now has two companies in registration to go public. The other being Artiva Biotherapeutics, Inc. It has also had at least 19 other companies go public this year through traditional IPOs. They are: Icosavax, Inc.; Immuneering Corp.; Erasca; GH Research; Monte Rosa Therapeutics; Elevation Oncology; Aerovate Therapeutics, Inc.; Verve Therapeutics; Centessa Pharmaceuticals; Rain Therapeutics, Inc.; VectivBio Holding; Biomea Fusion; Prometheus Biosciences, Inc.; Design Therapeutics; Edgewise Therapeutics; Ambrx, Inc.; Pharvaris, which Anne Lesage co-founded; Graphite Bio, whose scientific co-founders include Dr. Maria Grazia Roncarolo; and Talaris Therapeutics, Inc., which was founded by Dr. Suzanne Ildstad. It has also had a portfolio company merge with a SPAC this year: Tango Therapeutics, whose CEO is Dr. Barbara Weber. It also has another, Greenlight Biosciences, Inc., set to merge with a special purpose acquisition company. GreenLight was co-founded by Marta Ortega-Valle.

Brooke Nakatsukasa is on the board of a Vista Equity Partners portfolio company that files to go public

Vista Equity Partners Brooke Nakatsukasa is on the board of another firm portfolio company that has filed to go public. iCIMS Holding is seeking to raise $100 million and trade on Nasdaq under the symbol TLNT. Based in Holmdel, N.J., iCIMS provides a cloud-based enterprise recruiting software platform. It has more than 4,000 customers in more than 2,000 countries, including Dish Network, Keurig Dr. Pepper and Uber. Brooke joined iCIMS’ board in March. The company’s board also includes Alessandra Yockelson, who is chief human resources officer of Pure Storage.

Earlier this summer, another company on whose board Brooke serves, Integral Ad Science, went public. The New York digital advertising measurement and verification platform is led by Liza Utzschneider.

Brooke joined Vista in 2016 and is a vice president on the private equity flagship team. She also currently works with the firm’s investments in Gainsight, Zapproved and Ping Identity Holding Corp., which is publicly traded.

A portfolio company of Advent International’s Lauren Young files to go public

A portfolio company of Advent International’s Lauren Young has filed to go public. Definitive Healthcare is seeking to raise $100 million and list on Nasdaq under the symbol DH.

Based in Framingham, Mass., Definitive Healthcare is a provider of health care commercial intelligence. Its platform is used by functional groups including sales, marketing, clinical research and product development strategy, talent, acquisition and physician network management. Definitive Healthcare had $140 million in revenue for the 12 months ended June 30.

Lauren, a managing director, has been on Definitive Healthcare’s board since Advent invested in the company two years ago. Spectrum Equity, the company’s other major backer, has been an investor since 2015.

Lauren also serves on the boards of Forescout Technologies, P2 Energy Solutions and CCC Intelligent Solutions Holdings, Inc., which is publicly traded.

Definitive Healthcare’s board also includes Jill Larsen, who is chief people officer and executive vice president of PTC, Inc.

Jill Ramsey-led a.k.a. Brands files to go public

Private equity-backed a.k.a. Brands, whose CEO is Jill Ramsey, files to go public. An operator of a direct-to-consumer platform for a portfolio of online fashion brands, a.k.a. is seeking to raise $100 million and list on the New York Stock Exchange under the symbol AKA. The San Francisco company generated $15 million of net income on $215 million in revenue in 2020. a.k.a. is backed by Summit Partners.

Jill joined a.k.a. as CEO last year after serving as chief product and digital revenue officer at Macy’s, Inc. While there, she led Macys.com and Macy’s mobile app. Her background also includes senior roles with eBay and Walmart.

Following the offering, Kelly Thompson will join a.k.a.’s board. She previously served as senior vice president and chief operating officer at Samsclub.com.

Duanrong Liu’s ICZOOM Group files to go public

ICZOOM Group, which was co-founded by Duanrong Liu, files to go public. A Chinese provider of electrical components and services, ICZOOM is seeking to raise $37 million and list on Nasdaq under the symbol IZM. Based in Shenzhen, China, ICZOOM generated $213 million in sales in 2020.

Duanrong, who is ICZOOM’s chief operating officer, founded the company in 2012 with Lei Xia, who is CEO. She owns 42.96 percent of the company prior to the offering. Duanrong previously served as CEO of Chenhuake Technology Development, Ltd.

PEAK Membership

PEAK, Falk Marques Group

1188 Contributions
0 Following