Summary
- Seer has filed to raise $150 million in an IPO of its Class A stock.
- The firm is preparing to commercialize its protein analysis system.
- SEER enjoys additional existing investor interest in the IPO, but I'm leery of the valuation; I can see 'risk-on' IPO investors being interested, but I'm cautious on SEER's IPO.
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Quick Take
Seer (SEER) intends to raise $150 million from the sale of its Class A common stock in an IPO, according to an amended registration statement.
The company is developing an integrated system to assist biopharmaceutical and academic researchers in analyzing proteins.
SEER has additional investment interest by existing investors and the firm’s imminent launch into the market in 2021 as positives, I can’t come to a comfortable valuation of the IPO, so I'll watch the IPO from the sidelines.
However, I can understand how more ‘risk on’ investors might wish to buy at the IPO price along with major existing institutional investors.
Company & Technology
Redwood City, California-based Seer was founded to develop instruments to analyze proteins for basic research and discovery.
Management is headed by co-founder and CEO Omid Farokhzad, M.D., who was previously Professor at Harvard Medical School and co-founded BIND Therapeutics, Selecta Biosciences and Tarveda Therapeutics.
Below is a brief overview video of proteomics research:
