Erytech Pharma, a French biotech developing enzyme-based therapies for rare cancers, announced terms for its US IPO on Monday. The company's shares are currently listed on the Euronext Paris under they symbol ERYP.
The Lyon, France-based company plans to raise $100 million by offering 4.26 million ADSs at a price range of $23 to $24. It expects to raise an additional $25 million in a concurrent private placement. At the midpoint of the proposed range, Erytech Pharma would command a fully diluted market value of $415 million.
Erytech Pharma was founded in 2004 and plans to list on the Nasdaq under the symbol ERYP. Jefferies, Cowen & Company and Oddo BHF are the joint bookrunners on the deal. It is expected to price during the week of November 6, 2017.
