The Allianz-backed company, which is developing treatments for inner ear disorders, has set the range for its initial public offering between $10 and $12.

Switzerland-based biopharmaceutical company Auris Medical set the range on Monday for its forthcoming initial public offering on Nasdaq at between $10 and $12 per share.

The company plans to issue 6.9 million shares, which would place the projected proceeds from the IPO at between $69m and $83.8m. If it were to float at the midpoint of the range Auris would have a fully diluted market value of $285m.

Shareholders in Auris include Idinvest Partners, the venture capital fund backed…

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