VectivBio Holding, a Swiss Phase 3 biotech developing therapies for rare gastrointestinal disorders, announced terms for its IPO on Monday.
The Basel, Switzerland-based company plans to raise $128 million by offering 7.5 million shares at a price range of $16 to $18. At the midpoint of the proposed range, VectivBio Holding would command a fully diluted market value of $634 million.
The company's current product pipeline is focused on rare gastrointestinal disorders. Its candidate, apraglutide, is a next generation, long-acting synthetic peptide analog of glucagon-like peptide-2 (GLP-2) being developed for a range of rare GI diseases, with an initial focus on short bowel syndrome (SBS). Apraglutide is currently being evaluated in a global Phase 3 trial for the treatment of SBS-IF, with topline results expected in the 2H23.
VectivBio Holding was founded in 2019 and plans to list on the Nasdaq under the symbol VECT. BofA Securities, SVB Leerink, and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of April 5, 2021.
