Blue Water Vaccines, a preclinical biotech developing vaccines for the flu and other infectious diseases, announced terms for its IPO on Friday.
The Cincinnati, OH-based company plans to raise $20 million by offering 2.2 million shares at a price range of $8 to $10. At the midpoint of the proposed range, Blue Water Vaccines would command a fully diluted market value of $105 million.
Blue Water is focused on the research and development of transformational vaccines to prevent infectious diseases worldwide using its versatile vaccine platform, which can be utilized to develop singular or multi-targeted vaccines. Its pipeline includes novel vaccine candidates exclusively licensed from research institutions. The company's lead program, BWV-101, is licensed from the University of Oxford and is being developed as a transformational novel universal influenza vaccine.
Blue Water Vaccines was founded in 2018 and plans to list on the Nasdaq under the symbol BWV. Maxim Group LLC is the sole bookrunner on the deal.
