Ribomic test in Tokyo

Ribomic Inc. hopes to become 2014's first biotech IPO on the Tokyo Stock Exchange this month.

Last week, Ribomic set the price range at ¥2,000-¥2,300 for its IPO on the exchange's Mothers. If the aptamer company sells 1.2 million shares as planned at the ¥2,150 midpoint, it would raise ¥2.6 billion ($24.5 million) and be valued at ¥26 billion ($246.7 million)...