Pfizer spinoff Springworks, which also counts GlaxoSmithKline as an investor, secured $162m in an initial public offering that followed $228m of funding.

US-based rare disease and cancer drug developer SpringWorks Therapeutics has priced its shares at $18 each to raise $162m in an initial public offering that provided exits to pharmaceutical firms Pfizer and GlaxoSmithKline. The company issued 9 million shares on the Nasdaq Global Select Market at the top of the IPO’s $16 to $18 range.…

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