Novartis and Eli Lilly are set to score exits from the cancer and blood disease drug developer in an initial public offering set to raise up to $212m.
Forma Therepeutics, a US-based drug developer backed by pharmaceutical firms Novartis and Eli Lilly, will raise $212m in its initial public offering if it floats at the top of its range.
The company has set a range of $16 to $18 for the offering and plans to issue 11.8 million shares on the Nasdaq Global Market. Jefferies, SVB Leerink and Credit Suisse Securities (USA) are the underwriters.
Founded in 2007, Forma is developing treatments for cancer and rare haematologic…
