AC Immune boldly prices Nasdaq IPO
14.09.2016 - The summer slump on the stock markets is over: AC Immune has confidently priced its long-awaited Nasdaq IPO. The Swiss Alzheimer's specialist is expecting to raise up to US$68m (€60.5m) overseas.
AC Immune SA, which specialises in personalised treatment of neurodegenerative diseases, had announced their upcoming IPO in May. Now the Swiss drug maker has priced their shares. It will offer 4.5 million shares for between US$11 and US$13 each, bringing the total to US$54m. The company also intends to grant an optional 0.7 additional shares to cover over-allotments. All in all, AC Immune could raise US$68m in total.
The most advanced development project of AC Immune is the humanized monoclonal antibodies Crenezumab (RG7412), currently in Phase III. It is directed against the beta-amyloid plaques in the nerve cells of Alzheimer’s patients and is designed to alleviate or help delay dementia symptoms. AC Immune, founded in 2003, will be listed on the New York Stock Exchange Nasdaq with the ticker symbol ACIU.
AC Immune is not the only Swiss company to look for public money across the Atlantic. Late last week, Crispr Therapeutics filed to list on Nasdaq, NY, as well.
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