HilleVax, a Phase 2 biotech developing a novel norovirus vaccine in-licensed from Takeda, raised $200 million by offering 11.8 million shares at $17, within the range of $16 to $18. The company offered 1.5 million more shares than anticipated.
HilleVax was formed through the collaboration of Frazier and Takeda Pharmaceuticals to develop HIL-214, a virus-like particle based vaccine candidate for the prevention of moderate-to-severe acute gastroenteritis caused by norovirus infection. An open IND was transferred to HilleVax from Takeda in September 2021, under which the company plans to initiate a Phase 2b trial in infants in the 2Q22, with top-line data expected in the 2H23.
HilleVax plans to list on the Nasdaq under the symbol HLVX. J.P. Morgan, SVB Leerink, Stifel, and Guggenheim Securities acted as joint bookrunners on the deal.
