5th Feb 2021 11:22
RTW Venture Fund Ltd - New York-based investment company focussed on life sciences - Portfolio firm Landos Bipharma Inc prices USD100 million initial public offering and lists on Nasdaq Global Market.
Landos offered 6.25 million shares at a price of USD16 each to raise USD100 million.
The company is focused on the discovery and development of novel oral therapeutics for patients with autoimmune diseases. The lead asset BT-11 is a novel, oral, gut-restricted therapeutic candidate for the treatment of ulcerative colitis and Crohn's disease that targets the LANCL2 pathway.
JP Morgan, Jefferies and SVB Leerink acted as joint book-running managers for the offering, while Raymond James acted as lead manager.
Current stock price: USD2.36
Year-to-date change: up 25%
By Dayo Laniyan; [email protected]
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