BerGenBio set to trade after Oslo IPO

BerGenBio ASA (OSE:BGBIO) raised NOK400 million ($46.6 million) through the sale of 16 million shares at NOK25 in an IPO underwritten by ABG Sundal Collier, Arctic Securities and DNB markets. The price valued the company at NOK1.2 billion ($145 million). Trading is scheduled to begin Friday in Oslo.

BerGenBio’s lead candidate, BGB324, is in Phase II testing as monotherapy to treat acute myelogenous leukemia (AML) and myelodysplastic syndrome (MDS), and in combination with Tarceva erlotinib to treat EGFR-mutant non-small cell lung cancer (NSCLC). Last month, the company partnered with Merck & Co. Inc. (NYSE:MRK) to conduct Phase II trials of BGB324 in combination with Keytruda pembrolizumab to treat triple-negative breast cancer and NSCLC (see BioCentury Extra, March 8)...