Centessa Pharmaceuticals plc

CNTA

Centessa Pharmaceuticals plc (Centessa) was conceived by combining the primary strengths of the asset-centric model with the benefits of diversification and scale typically attributed to traditional large R&D organizations. The asset-centric model refers to single-purpose companies which are focused on developing a single program or programs associated with a single biological pathway. We were inspired by the success realized by the asset-centric model and were founded on the principle of developing asset centricity at scale.

We have implemented this reimagined approach to R&D by initially combining a curated portfolio of ten wholly-owned asset-centric companies, which we refer to as Centessa Subsidiaries, that are developing 16 high conviction programs with clear biological rationale. Each Centessa Subsidiary is led by one or more individuals we believe to be some of the leading subject matter experts in their respective disciplines. We empower our subsidiaries to advance their research and development plans in an independent and unbiased manner.

Our programs cover a range of high-value therapeutic areas including oncology, hematology, immunology / inflammation, neuroscience, hepatology, pulmonology, nephrology, and range from discovery-stage research through late-stage clinical development. Additionally, a substantial number of our programs focus on rare disease indications with significant unmet need. We currently anticipate a total of more than a dozen clinical read-outs over the next three years, including three clinical read-outs in 2021. We expect this robust cadence of clinical progress will be coupled with significant development advancements for our earlier-stage preclinical programs. As a therapeutic-focused company, we intend to pursue a “develop to commercialize” approach for our programs with a relentless focus on efficiently delivering consequential medicines to patients.

Centessa was formed in October 2020 by Medicxi with a view to ultimately acquiring, and thereby becoming the holding company of, several pre-revenue, development stage biotech companies each of which was either controlled by and/or invested in by a fund affiliated with Medicxi or Index Ventures. On January 29, 2021, Centessa acquired 11 biotechnology companies and simultaneously closed a Series A funding round of $250 million. Prior to the acquisition, Centessa’s activities were limited mainly to engaging advisors and recruitment efforts. Centessa commenced active operations after the consummation of the acquisitions. Each of the Centessa Subsidiaries was a portfolio company of a fund affiliated with Medicxi or Index Ventures at the time of the acquisition. 

Offer Price Offer Size 3-Year Outlook Volatility 1st Day Turnover
$20.00 16,500,000 Positive High 23.21%

Offering Team

Deal Managers

  • Morgan Stanley
  • Goldman Sachs

Lawyers

  • Goodwin Procter LLP

Auditors

  • KPMG LLP

Pre-IPO Investors

Investors

  • Google Ventures
  • Intel Ventures
  • Patricoff Ventures
  • Kleiner Perkins

Pre-IPO Holdings(%)

  • 30
  • 20
  • 05
  • 18

Deal Highlights

Deal Tracker

Investors

Filing

27 May, 2021

Offer

28 May, 2021

Look Ahead

Lock Up Expiry

28 Nov, 2021

Earning

Nov 1, 2018

IPO Terms

Offer Price $20.00
Offer Size 16M

Market Sentiments

Stock Price