The AbbVie, Eli Lilly, Amgen, Merck & Co and Alphabet-backed neurodegenerative disease drug developer is floating in the middle of its range.
Alector, US-based immuno-neurology therapy developer backed by corporates AbbVie, Eli Lilly, Alphabet, Amgen and Merck & Co, will raise $176m when it floats on the Nasdaq Global Select Market today.
The company priced 9.25 million shares at $19.00 each, in the middle of the $18 to $20 range it set for the initial public offering, valuing it at almost $1.3bn. Unnamed shareholders had expressed interest in buying $85m of shares in the IPO but it has not been revealed whether…
