GlaxoSmithKline-backed ChemoCentryx is looking to raise up to $64m when it floats, hot on the heels of fellow biopharmaceutical company Verastem.
ChemoCentryx, a US-based molecular therapeutics company, set the range for the shares for its initial public offering (IPO) at between $14 and $16 on Monday, and is estimating that it will raise $60m from the offering of four million shares.
ChemoCentryx will raise an additional $12m from concurrent sales of common stock to two shareholders: pharmaceutical conglomerate GlaxoSmithKline and biotechnology company Techne.
In addition to its role as an equity investor in ChemoCentryx, Glaxo is also a strategic partner.…
