AC Immune, which is a Swiss biotech developing therapies for Alzheimer's disease, announced terms for its IPO on Tuesday.
The Lausanne, Switzerland-based company plans to raise $55 million by offering 4.5 million shares at a price range of $11 to $13. Insiders intend to purchase $30 million worth of shares in the offering. At the midpoint of the proposed range, AC Immune would command a fully diluted market value of $673 million.
AC Immune was founded in 2003 and booked $45 million in sales for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol ACIU. Credit Suisse, Jefferies and Leerink Partners are the joint bookrunners on the deal. It is expected to price during the week of September 19, 2016.
