vTv Therapeutics, a biotech developing treatments for Alzheimer's and type 2 diabetes, filed on Monday with the SEC to raise up to $173 million in an initial public offering. The company's lead product candidate, azeliragon for Alzheimer's disease, is enrolling for a Phase 3 trial, the results of which are expected to be released in mid-2018. Its Executive Chairman, Jeffrey Kindler, was the CEO of Pfizer from 2006 to 2010.
vTv is a newly formed entity that will combine the operations of TransTech Pharma (formed in 1998) and High Point Pharmaceuticals (formed by TransTech in 2008). The predecessors have raised more than $500 million through private placements and collaborations with Novo Nordisk, Merck, Boehringher Ingelheim, Pfizer (2006-2011) and Forest Laboratories. The company is now majority owned by Ronald Perelman's MacAndrews.
The High Point, NC-based company, which was founded in 1998 and booked $2 million in sales for the 12 months ended March 31, 2015, plans to list on the NASDAQ under the symbol VTVT. Piper Jaffray and Stifel are the joint bookrunners on the deal. No pricing terms were disclosed.
