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Surgical infection biotech PolyPid sets terms for $75 million IPO

PolyPid, which is developing extended-release drugs to prevent surgical site infections, announced terms for its IPO on Wednesday.

The Petach Tikva, Israel-based company plans to raise $75 million by offering 3.33 million shares at a price range of $21 to $24. Insiders intend to purchase $20 million worth of shares in the offering. At the midpoint of the proposed range, PolyPid would command a fully diluted market value of $370 million.

PolyPid was founded in 2008 and booked n/a in sales for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol POLY. Goldman Sachs, Cowen & Company and Cantor Fitzgerald are the joint bookrunners on the deal. It is expected to price in March 2018.

The article Surgical infection biotech PolyPid sets terms for $75 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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