OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) is an early developmental-stage biotechnology company focused on discovering and developing first-in-class monoclonal antibody ("MAB") therapeutics targeting cancer stem cells ("CSCs"). Based in Redwood City, California, OMED recently went public in July. The company sold 5,520,000 shares for $17.00 per share and received net cash proceeds of $82.7MM.
In normal tissue development, tissues are maintained over the long term by a small population of normal stem cells, which have self-renewal capabilities, or the ability to proliferate indefinitely while maintaining pluripotency. Similarly, it has been found that cancer cells can inappropriately activate self-renewal pathways, enabling a small set of cancer stem cells to exhibit properties similar to normal stem cells, but without the proper restraints.
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