The biopharmaceutical developer floated at the top of its range and will secure $65.9m from existing backer Merck & Co through a private placement.
US-based drug developer NGM Biopharmaceuticals went public today in a $107m initial public offering that provided exits to pharmaceutical companies Merck & Co and Takeda.
The IPO consisted of approximately 6.7 million shares issued on the Nasdaq Global Select Market and priced at $16.00 each, at the top of the $14 to $16 range NGM set late last month. Merck & Co has acquired $65.9m more shares in a concurrent private placement.
NGM utilises what it calls a biology-centric…
