TiGenix, which is developing injectable stem cell therapies for the treatment of perianal fistulas, announced terms for its IPO on Monday.
The Leuven, Belgium-based company is currently traded on the Euronext Belgium under ticker symbol TIG and is planning to be dual listed, post-IPO. It plans to raise $53 million by offering 2.8 million ADSs, which at a 1:20 conversion ratio implies a $19.20 price per ADS. At $19.20, TiGenix would command a fully diluted market value of $247 million.
TiGenix was founded in 2000 and it plans to list on the Nasdaq under the symbol TIG. BofA Merrill Lynch and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of December 12, 2016.
