NexImmune Raises Gross Proceeds of $126.5M in Upsized IPO
Legacy SPIVs Establish Rapha Capital’s Expertise in Identifying Disruptive Technologies
MIAMI, Feb. 24, 2021 /PRNewswire/ — Rapha Capital Management, LLC (https://raphacap.com), an investment management firm located in Miami, Florida, is pleased to announce that on February 17, 2021, its portfolio company, NexImmune, Inc. (“NexImmune”), closed an upsized initial public offering raising gross proceeds, before deducting underwriting discounts and commissions and offering expenses, of approximately $126.5 million. The gross proceeds included the exercise in full by the underwriters of their option to purchase additional shares. NexImmune’s shares are traded on the Nasdaq Global Market under the symbol “NEXI”. Rapha Capital Investment II, LLC (“RCI II”) (an entity managed by Rapha Capital), participated in NexImmune’s Series A financing in July, 2018 and Series A-2 financing in January, 2019, investing a total of $1.8 million.
Rapha Capital Management is an investment management firm focused on managing strategic investments in early stage, non-public biotechnology companies, through special purpose investment vehicles (“SPIVs”). Rapha Capital was founded by its President, Kevin Slawin, M.D., a successful and experienced oncologic and robotic surgeon. After leaving practice, Dr. Slawin has been serving as a biotech consultant, investor, and founder, focusing on disruptive technologies in oncology, T cells and immunotherapy, and other breakthrough healthcare technologies. He is the founder of Bellicum Pharmaceuticals, Inc. (“Bellicum”), a publicly traded company listed on NASDAQ, leading Bellicum to a successful $161 million IPO in December, 2014. He also plays a guiding role in several of the investments managed by Rapha Capital in certain companies, serving as a board member at 3DBio Therapeutics, Inc. (https://3dbiocorp.com/), FIZE Medical, Inc. (www.fizemedical.com), and Demeetra AgBio, Inc. (www.demeetra.com). He served as a board member and interim CEO of portfolio company AsclepiX Therapeutics, Inc. (www.asclepix.com) in 2020, engineering their $35 million Series A financing led by Perceptive Xontogeny Venture Fund in mid 2020. Rapha Capital Management manages thirteen legacy SPIVs, Rapha Capital Investment I – XIII. Rapha Capital Management will be offering alternative asset management services to its inaugural venture capital fund, launching at the end of 1Q21, which will be the vehicle for all future investments managed by Rapha Capital Management.
“We recognized the transformative potential of immunotherapy early on, founding Bellicum Pharmaceuticals, one of the first cellular immunotherapy companies in 2004, and have been an expert in identifying other potentially disruptive technologies, since 2017, when Rapha Capital Management was founded,” commented Kevin Slawin, MD. “RCI II’s investment in NexImmune is another example of our commitment to use our unique abilities to identify at the earliest stage, those companies that we believe will go on to profoundly improve peoples’ lives while building great value, from a sea of seemingly indistinguishable, less compelling, opportunities,” he added.
About NexImmune, Inc.
NexImmune, based in Gaithersburg, Maryland, is a clinical-stage biotechnology company developing a novel approach to immunotherapy designed to employ the body’s own T cells to generate a specific, potent and durable immune response that mimics natural biology. NexImmune’s IPO pricing announcement can be accessed here.
About Rapha Capital Management, LLC
Rapha Capital Management, LLC is an investment management firm located in Miami, Florida, focusing on identifying and managing strategic investments in early stage, non-public biotechnology companies. Rapha Capital was founded by its President, Kevin Slawin, MD, a successful and experienced oncologic and robotic surgeon, biotech consultant, investor, and founder focusing on technologies in oncology, T cells and immunotherapy, as well as other breakthrough healthcare technologies. He is the founder of Bellicum Pharmaceuticals, Inc., a publicly traded company listed on NASDAQ. He is co-Inventor of the FDA,-approved “prostate health index (phi)” test licensed and marketed by Beckman Coulter and utilized around the world. He has published extensively in top medical and scientific journals including the Journal of the American Medical Association (JAMA), Journal of the National Cancer Institute (JNCI), and the New England Journal of Medicine (NEJM). He has also been routinely listed in America’s Top Doctors for Cancer (Castle Connolly Medical) and The Best Doctors in America (Woodward/White). In 2003, he was awarded the F. Brantley Scott, Jr., Award for Innovation and Creativity in Urology.