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Cancer Startup's Bold IPO Target Carries 'Management Premium'

Leukaemia blood cells.

Source: Science Photo LibrarySTEVE GS/Brand X via Getty Images

Arie Belldegrun and David Chang are back on Wall Street.

The two biotech veterans, who last year sold Kite Pharma Inc. to Gilead Sciences Inc. for almost $12 billion, are seeking to take their new project on next-generation cellular cancer therapies public. The company, Allogene Therapeutics Inc., plans to raise as much as $288 million in the IPO, according to a filing on Tuesday.