Vigil Neuroscience, a Phase 1 biotech developing antibody therapies for neurodegenerative diseases, raised $98 million by offering 7 million shares at $14, below the range of $15 to $17.
The company is addressing microglial dysfunction, which has been implicated in neurodegenerative diseases. Its lead candidate, VGL101, is a fully human monoclonal antibody (mAb) that is initially being developed for adult-onset leukoencephalopathy with axonal spheroids and pigmented glia (ALSP). VGL101 entered its first-in-human Phase 1 trial in December 2021, and topline data is expected in the 2H22.
Vigil Neuroscience plans to list on the Nasdaq under the symbol VIGL. Morgan Stanley, Jefferies, Stifel, and Guggenheim Securities acted as joint bookrunners on the deal.
