ARTICLE | Financial News

Molecular Partners, Neuroderm set IPO terms

November 4, 2014 2:15 AM UTC

Molecular Partners AG (Schlieren, Switzerland) re-entered the IPO queue with a downsized offering on the SIX Swiss Exchange less than two weeks after postponing the listing due to market conditions, while NeuroDerm Ltd. (Rehovot, Israel) set its IPO terms on NASDAQ.

Molecular Partners now plans to raise CHF98.6 million ($102.2 million) through the sale of 4.4 million shares at CHF22.40, which would give it a valuation of CHF485 million. It expects shares to begin trading on Nov. 5 with JPMorgan; Cowen; and Bank am Bellevue as underwriters. If completed, the offering would make Molecular Partners the fourth European company to raise more than $100 million in an IPO in 2014. Before postponing the offering, the small molecule platform company planned to raise CHF125 million ($133.1 million). ...