Leveling Up By Challenging Assumptions

By Ben Comer, Chief Editor, Life Science Leader

One year after Rami Elghandour joined Arcellx, Inc., a cell therapy company based in Gaithersburg, MD, and Foster City, CA, as the company’s new chairman and CEO, he took the company public, netting $128 million and funding operations into the second half of 2023. If the IPO had occurred in 2020 or 2021, it may not have been all that surprising. Instead, Arcellx completed its IPO in February 2022, a time when key biotech stock indexes continued a precipitous drop that began in the second half of 2021, causing many biopharma companies to delay IPO plans indefinitely.