Biocartis looks to go big on Euronext

Biocartis Group N.V.'s proposed flotation on Euronext would be the largest European IPO so far this year and the largest biotech IPO on Euronext since Ipsen Group (Euronext:IPN; Pink:IPSEY) raised €170.9 million ($200.2 million) in 2005. Yet the deal falls well short of what other European companies are raising on the U.S. market and thus isn't likely to end the debate about where European companies should list.

Biocartis is commercializing its Idylla molecular diagnostics platform for cancer and infectious diseases. Last week, the company said it plans to sell 8.7 million shares at €10-€11.50 per share in an IPO on Euronext and a private placement outside Belgium. If the deal prices at the top end of its range and the overallotment is sold, Biocartis would raise €115 million ($121.5 million) and have a postmoney valuation of €465.2 million ($491.4 million). The shares are expected to begin trading on May 4...