Virax Biolabs Group, a UK-based distributor of diagnostic tests and PPE for viral diseases, filed on Friday with the SEC to raise up to $17 million in an initial public offering.
The holding company conducts operations in the UK and Hong Kong with operating subsidiaries in Singapore, China and the British Virgin Islands. Virax Biolab primarily engages in the sale, distribution, and marketing of diagnostics test kits and med-tech and PPE products for the prevention, detection, diagnosis and risk management of viral diseases. The company's product portfolio includes diagnostics test kits sold through the “ViraxClear” brand, med-tech and PPE products sold through the “ViraxCare” brand, and sourced brands of third party suppliers.
The London, UK-based company was founded in 2013 and booked $110 thousand in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol VRAX. Virax Biolabs Group filed confidentially on December 27, 2021. Boustead Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
