Proteostasis Therapeutics, which is developing combination therapeutics that use amplifier molecules to modulate proteins, announced terms for its IPO on Monday.
The Cambridge, MA-based company plans to raise $50 million by offering 3.9 million shares at a price range of $12 to $14. Insiders intend to purchase $30 million worth of shares in the offering. At the midpoint of the proposed range, Proteostasis Therapeutics would command a fully diluted market value of $225 million.
Proteostasis Therapeutics was founded in 2006 and booked $4 million in sales for the 12 months ended September 30, 2015. It plans to list on the Nasdaq under the symbol PTI. Leerink Partners and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of February 8, 2016.
