Shares in Adaptive Biotechnologies, backed by Microsoft, Celgene, Illumina, LabCorp and BD Biosciences, soared more than 100% on its first day of trading.

Adaptive Biotechnologies, a US-based drug discovery technology developer backed by multiple corporate investors, went public yesterday in a $300m initial public offering. The company sold 15 million shares priced at $20 each, above its targeted range of $18 to $19, valuing it at more than $2.4bn. Its shares more than doubled in price on its…

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