The hearing loss treatment developer has raised more than $127m in its initial public offering that offered exits to Alphabet, GlaxoSmithKline and Regeneron.

Decibel Therapeutics, a US-based hearing loss drug developer backed by corporates Alphabet, GlaxoSmithKline (GSK) and Regeneron, priced its shares at $18 to raise more than $127m in its IPO on the Nasdaq Global Select Market on Thursday.

The company issued slightly more than 7 million shares and beat its original target of $75m. Shares briefly peaked at $24.39 before dropping back down and closing at $18.03 on the first day of trading on Friday.

Decibel is developing gene therapies…

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
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