VectivBio Holding, a Swiss Phase 3 biotech developing therapies for rare gastrointestinal disorders, raised $128 million by offering 7.5 million shares at $17, within the range of $16 to $18. At pricing, the company commands a fully diluted market value of $634 million.
VectivBio'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 plans to list on the Nasdaq under the symbol VECT. BofA Securities, SVB Leerink and Credit Suisse acted as lead managers on the deal.
