Certara, which provides biosimulation software and services used for drug development, announced terms for its IPO on Thursday.
The Princeton, NJ-based company plans to raise $500 million by offering 24.4 million shares (40% insider) at a price range of $19 to $22. At the midpoint of the proposed range, Certara would command a fully diluted market value of $3.1 billion.
The company uses its biosimulation software and technology to conduct virtual trials using virtual patients to predict how drugs behave in different individuals, which it believes can transform traditional drug discovery and development. Its integrated, end-to-end platform is used by more than 1,600 biopharmaceutical companies and academic institutions across 60 countries, including the top 35 biopharmaceutical companies by R&D spend in 2019.
Certara was founded in 2007 and booked $233 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol CERT. Jefferies, Morgan Stanley, BofA Securities, Credit Suisse, Barclays and William Blair are the joint bookrunners on the deal. It is expected to price during the week of December 7, 2020.
