PTC Therapeutics, a US-based drugs developer for muscles, plans to float on the Nasdaq stock exchange with a market capitalisation of about $322m.

PTC plans to offer 6.9 million shares at between $13 and $16 each.

PTC posted a $26m net loss on $34m in revenue for last year, compared to $30m in net income on $105m in revenue for 2011.

Investment banks JP Morgan and Credit Suisse are PTC’s lead underwriters for the initial public offering (IPO), with legal counsel from Wilmer Cutler Pickering Hale and Dorr and Davis Polk & Wardwell.

Credit Suisse  is PTC’s largest outside shareholder with a 14.8% pre-IPO stake,  while drugs group Celgene owns 7% and peer Novo less than 5%.

Venture capital firms HBM Healthcare Investments (12%), Vulcan Capital (9%), Brookside Capital Partners (7%), Delphi Ventures (6.3%) and Column Group are also listed in the regulatory filing.

In March, PTC raised $60m from…

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