resTORbio, which is developing novel therapeutics for the treatment of aging-related diseases, announced terms for its IPO on Tuesday.
The Boston, MA-based company plans to raise $85 million by offering 5.7 million shares at a price range of $14 to $16. Insiders intend to purchase $35 million (41% of deal size) worth of shares in the offering. At the midpoint of the proposed range, resTORbio would command a fully diluted market value of $410 million.
resTORbio was founded in 2016 and plans to list on the Nasdaq under the symbol TORC. BofA Merrill Lynch, Leerink Partners and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of January 22, 2018.
