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Alzheimer's biotech vTv Therapeutics sets terms for $125 million IPO

vTv Therapeutics, a biotech developing treatments for Alzheimer's disease and type 2 diabetes, announced terms for its IPO on Monday.

The High Point, NC-based company plans to raise $125 million by offering 7.8 million shares at a price range of $15 to $17. At the midpoint of the proposed range, vTv Therapeutics would command a basic market value of $525 million.

The last biotech IPO targeting Alzheimer's disease, Axovant ( AXON ), went public with a $1.5 billion valuation in June and gained 99% on its first day, but now trades 42% above its offer price. Eli Lilly ( LLY ) is in the final stages of development for its own Alzheimer's therapy.

vTv Therapeutics, which was founded in 1998 and booked $2 million in sales for the 12 months ended March 31, 2015, plans to list on the NASDAQ under the symbol VTVT. vTv Therapeutics initially filed confidentially on May 14, 2015. Piper Jaffray and Stifel are the joint bookrunners on the deal. It is expected to price during the week of July 27, 2015.

The article Alzheimer's biotech vTv Therapeutics sets terms for $125 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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