SoftBank-backed Neumora Therapeutics aims to raise up to $264.8 mln in US IPO

Credit: REUTERS/Brendan McDermid

Adds details on listing and background in paragraphs 2-6

Sept 11 (Reuters) - Biopharmaceutical firm Neumora Therapeutics, backed by Amgen AMGN.O and Japan's SoftBank 9984.T, is aiming to raise up to $264.8 million in its U.S. initial public offering, according to a regulatory filing on Monday.

Neumora, which is developing drugs for brain disease, is offering 14.7 million shares priced between $16 and $18 apiece.

Several high-profile startups had to shelve their listing plans for most of the past two years as Russia's invasion of Ukraine and a spike in interest rates kept markets volatile.

Watertown, Massachusetts-based Neumora's announcement comes on the heels of grocery delivery service Instacart, SoftBank's chip designer Arm and marketing automation firm Klaviyo planning for IPOs.

The listings, if successful, could revive the U.S. IPO market, which has already shown signs of life this year on hopes that the U.S. Federal Reserve's interest rate policy will help the country's economy experience a "soft landing", where inflation falls without a recession or big job losses.

JPMorgan Chase JPM.N and Bank of America BAC.N are the lead underwriters for the offering.

(Reporting by Pritam Biswas in Bengaluru; Editing by Saumyadeb Chakrabarty and Shounak Dasgupta)


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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