Olink Holding, which provides a platform of proteome analysis products for biomedical research, announced terms for its IPO on Thursday.
The Uppsala, Sweden-based company plans to raise $300 million by offering 17.6 million ADSs (25% insider) at a price range of $16 to $18. Certain entities advised by T. Rowe Price intend to purchase $75 million worth of ADSs in the offering. At the midpoint of the proposed range, Olink Holding would command a market value of $2.0 billion.
Olink provides a portfolio of protein biomarker analysis products, with its current offering based on a proprietary and patented Proximity Extension Assay (PEA) technology. PEA enables researchers to use one platform from discovery to clinical trials to diagnostic applications utilizing an established infrastructure of labs and installed instrumentation.
Olink Holding was founded in 2004 and booked $54 million in revenue for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol OLK. Goldman Sachs, Morgan Stanley and SVB Leerink are the joint bookrunners on the deal. It is expected to price during the week of March 22, 2021.
