Viela Bio, a late-stage biotech developing antibodies licensed from AstraZeneca, announced terms for its IPO on Monday.
The Gaithersburg, MD-based company plans to raise $150 million by offering 7.5 million shares at a price range of $19 to $21. Insiders intend to purchase $50 million worth of shares in the offering. At the midpoint of the proposed range, Viela Bio would command a fully diluted market value of $1.0 billion.
Viela Bio was founded in 2017 and booked $20 million in license revenue for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol VIE. Goldman Sachs, Morgan Stanley, and Cowen are the joint bookrunners on the deal. It is expected to price during the week of September 30, 2019.
