Alzheimer's biotech Cortexyme sets terms for $75 million IPO

Cortexyme, which is developing a novel therapy for Alzheimer's disease, announced terms for its IPO on Monday.

The South San Francisco, CA-based company plans to raise $75 million by offering 4.4 million shares at a price range of $16 to $18. Insiders intend to purchase $35 million worth of shares in the offering. At the midpoint of the proposed range, Cortexyme would command a fully diluted market value of $476 million.

Cortexyme was founded in 2012 and plans to list on the Nasdaq under the symbol CRTX. BofA Merrill Lynch and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of May 6, 2019.

The article Alzheimer's biotech Cortexyme sets terms for $75 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

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