Finance

General Atlantic-backed Centessa targets $1.7 billion valuation in U.S. IPO By Reuters

© Reuters.

(Reuters) – Centessa Pharmaceuticals Plc, the newly formed biopharma company backed by private equity firm General Atlantic, said on Monday it was aiming for a valuation of up to $1.7 billion in its initial public offering in the United States.

Formed in October, Centessa received $250 million funding in January. It is also backed by venture capital firm Index Ventures and life sciences-focused investment firm Medicxi.

Moncef Slaoui, formerly the chief scientific adviser for the U.S. government’s Operation Warp Speed COVID-19 vaccine development program, joined Centessa as its chief scientific officer in February.

Slaoui, however, stepped down from his role later following reports of allegations of sexual harassment and inappropriate conduct towards an employee of GlaxoSmithKline (NYSE:) several years ago.

Centessa is offering 15 million American depositary shares (ADSs), each representing one ordinary share, for a price between $18 and $20 per ADS. At the top end of the range, the IPO would rake in $300 million.

The company said it plans to locate its headquarters in Cambridge, Massachusetts. Cerecor (NASDAQ:) Inc, one of the biotech companies acquired by Centessa, is developing a treatment for acute respiratory distress syndrome in hospitalised COVID-19 patients, according to a regulatory filing.

Morgan Stanley (NYSE:), Goldman Sachs (NYSE:), Jefferies (NYSE:) and Evercore ISI are the underwriters for the offering. Centessa said it would list on the Nasdaq under the symbol “CNTA”.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button