On Oct. 18, 2006, Trubion Pharmaceutical completed its IPO of 4,000,000 shares of common stock at $13.00 per share with gross proceeds of $52 million.

Trubion was founded in Seattle in 1999 as a spin-off from the Pacific Northwest Diabetes Research Institute, and was focused on creating a pipeline of protein-based therapeutic product candidates to treat autoimmune and inflammatory diseases and cancer. In 2010, Trubion was acquired by Maryland-based Emergent BioSolutions for $135.5 million.