Success Story

Two Penn-affiliated biotech startups complete record-setting IPOs in FY20

Passage Bio and Cabaletta Bio, two innovative startups spun out of Penn, completed successful IPOs this past year and further expanded their respective partnerships with the University. Passage Bio’s IPO was the largest to date for a Philadelphia-based cell and gene therapy company bringing in an extraordinary $248.4 million, while Cabaletta raised $74.8 million for its own corporate expansion and product development efforts.

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