The Macrogen-backed gut microbiome drug developer went public in a $22.5m offering priced at the foot of its range.

Microba Life Sciences, an Australia-based microbiome measurement technology developer backed by genetic analysis technology producer Macrogen, floated in a A$30m ($22.5m) initial public offering on the Australian Stock Exchange (ASX) on Monday.

The offering involved the sale of 66.7 million shares at the bottom end of its A$0.45 to A$0.50 range, giving the company a market capitalisation of approximately $93m. Its shares have fallen to A$0.37 at time of publication.

Founded in 2017, Microba provides technology licensed from University of…

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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.
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