The Astra Zeneca antibiotic development spin off has floated in an initial public offering in which Novo bought more than $16m in shares.
Entasis Therapeutics, a US-based antibacterial product developer spun off from pharmaceutical firm Astra Zeneca, raised $75m in an initial public offering on Wednesday, with pharmaceutical company Novo buying $16.3m of shares.
The IPO priced its shares at $15 each on the Nasdaq Global Market, below the $16 to $18 range, but increased the number of shares in the offering from 4.4 million to 5 million.
Existing shareholders including Novo bought almost 3.3 million of those shares, and the company…
