Vaccinex, which is developing antibody therapies to combat cancer and neurological diseases, announced terms for its IPO on Monday.
The Rochester, NY-based company plans to raise $45 million by offering 3.3 million shares at a price range of $12 to $15. Insiders intend to purchase $30 million worth of shares in the offering (67% of deal). At the midpoint of the proposed range, Vaccinex would command a fully diluted market value of $191 million.
Vaccinex was founded in 2001 and plans to list on the Nasdaq under the symbol VCNX. Oppenheimer & Co. and BTIG are the joint bookrunners on the deal. It is expected to price during the week of August 6, 2018.
