Mitsui and Nan Fung are among the backers celebrating Rallybio’s flotation on the Nasdaq Global Select Market following an $80.6m offering.
Rallybio, a US-based rare disease therapy developer backed by conglomerate Mitsui and real estate developer Nan Fung, raised $80.6m in its initial public offering on the Nasdaq Global Select Market last week.
The company issued 6.2 million shares priced at $13 each. Shares closed at $17 on Friday, and the company currently has a market cap of nearly $523m.
Founded in 2018, Rallybio is working on treatments for rare and severe conditions. Its assets include RLYB211, which is aimed…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
