immunedesign11Trading on the NASDAQ under the ticker IMDZ, Seattle biotech company Immune Design today priced its initial public offering at $12 per share and raised $60 million.

The company, which is working on novel technologies that activate the body’s immune system to fight cancer, had previously set its IPO range at $12 to $14 per share with a maximum offering price at $74.8 million. Its stock rose to $12.81 on Thursday, but fell back down to $12.05 by the closing bell. It decreased slightly in after hours trading to $12.03 per share.

Led by CEO Carlos Paya, the former president of Elan, Immune Design reported a net loss of $16 million last year, and has reported an accumulated deficit of $64.8 million since it was founded. The company said it anticipates losses for the foreseeable future.

Immune Design has raised nearly $100 million in venture funding, including $49 million last year. Its backers include The Column Group, Topspin Partners, Alta Partners, Versant Ventures, Osage Partners and ProQuest Investment.

Immune Design is the second Seattle-area company to complete an IPO in the past 30 days, following in the footsteps of pet insurance company Trupanion.

Like what you're reading? Subscribe to GeekWire's free newsletters to catch every headline

Job Listings on GeekWork

Find more jobs on GeekWork. Employers, post a job here.