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PulseReporter > Blog > Money > Weight problems drugmaker BioAge targets $158 million in IPO
Money

Weight problems drugmaker BioAge targets $158 million in IPO

Last updated: September 18, 2024 10:15 pm
10 months ago
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Weight problems drugmaker BioAge targets 8 million in IPO
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BioAge Labs Inc., a clinical-stage biotechnology firm creating therapies for weight problems and metabolic illness, is searching for to lift as a lot as $157.5 million in its preliminary public providing and a non-public placement.

The corporate is providing 7.5 million shares for $17 to $19 apiece, in keeping with a submitting Wednesday with the US Securities and Change Fee. Individually, Sofinnova Enterprise Companions XI LP, an current shareholder, is predicted to buy about $15 million price of shares on the IPO value in a non-public placement.

On the high of the worth vary, BioAge would have a market worth of about $587 million, based mostly on the excellent shares listed within the submitting.

BioAge, based mostly in Richmond, California, had a valuation of $394 million after elevating $194 million in a Collection D spherical in February, in keeping with knowledge supplier PitchBook.

Its high shareholders are co-founder and Chief Govt Officer Kristen Fortney, who controls 9.8% of the corporate, and entities affiliated with Andreessen Horowitz and Khosla Ventures, with 9.4% and eight% useful possession respectively, the submitting reveals. 

The providing is being led by Goldman Sachs Group Inc., Morgan Stanley, Jefferies Monetary Group Inc. and Citigroup Inc. The corporate plans for its shares to commerce on the Nasdaq International Market beneath the image BIOA.

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