IPOs

Swiss health tech company SOPHiA GENETICS sets terms for $234 million US IPO

SOPHiA GENETICS, which provides a data-driven SaaS platform for the healthcare industry, announced terms for its IPO on Monday.

The Saint-Sulpice, Switzerland-based company plans to raise $234 million by offering 13 million shares at a price range of $17 to $19. The company plans to raise an additional $20 million in a concurrent private placement to an affiliate of GE Healthcare. At the midpoint of the proposed range, SOPHiA GENETICS would command a fully diluted market value of $1.2 billion.

SOPHiA GENETICS provides a cloud-based software-as-a-service (SaaS) platform capable of analyzing data and generating insights from complex multimodal data sets and different diagnostic modalities. In 2014, the company launched the first application of its platform to analyze NGS data for cancer diagnosis. As of March 31, 2021, it had approximately 240 applications used by healthcare providers, clinical and life sciences research laboratories and biopharmaceutical companies for precision medicine across oncology, rare diseases, infectious diseases, cardiology, neurology, metabolism and other disease areas.

SOPHiA GENETICS was founded in 2011 and booked $30 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol SOPH. J.P. Morgan, Morgan Stanley, Cowen, and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of July 22, 2021.

The article Swiss health tech company SOPHiA GENETICS sets terms for $234 million US 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's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts 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.

Renaissance Capital

Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

Learn More