Sana Biotechnology raises largest-ever IPO for preclinical biotech company

Details: Sana will list on the Nasdaq (SANA). It had raised $865 million in VC funding, including last summer at a $2.8 billion valuation, from firms like Arch Venture Partners (27.5% pre-IPO stake), Flagship Pioneering (21.4%), CPPIB (6.8%) and F-Prime Capital (5.1%).

The bottom line: "The IPO is coming less than three years after it was founded — a milestone that on average usually occurs more than eight years after initial VC financing. Juno Therapeutics was even faster to IPO [raising $265m], since it filed to go public in 2014, 16 months after its founding. Juno was sold to Celgene for $9 billion in 2018," GeekWire writes.