ASLAN Pharmaceuticals, a Singapore biotech developing cancer therapies using the HER pathway, announced terms for its US IPO on Monday. The company's common shares are currently listed on the Taipei Exchange (TPEx: 6497).
The Singapore-based company plans to raise $60 million by offering 7.5 million ADSs at a price of $8.05, the as-converted price of five common shares. At $8.05 per ADS, ASLAN Pharmaceuticals would command a fully diluted market value of $283 million.
ASLAN Pharmaceuticals was founded in 2010 and plans to list on the Nasdaq under the symbol ASLN. Leerink Partners and Piper Jaffray are the joint bookrunners on the deal.
