The Brii Biosciences-backed lung disease treatment developer priced an upsized offering in the middle of its range.

US-based lung disease therapy developer AN2 Therapeutics, which counts pharmaceutical firm Brii Biosciences as a backer, has raised $69m in an initial public offering on the Nasdaq Global Select Market.

The offering involved the sale of 4.6 million shares, upsized from 4 million and priced at $15.00 each, in the middle of the offering’s $14 to $16 range. Its shares closed at $15.38 yesterday to give it a $288m market capitalisation.

Founded in 2018, AN2 is developing treatments for…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.