GlaxoSmithKline, Sanofi and 6 Dimensions Capital have all secured exits as the rare disease treatment developer raised $72m in its initial public offering.
US-based rare disease drug developer Fulcrum Therapeutics raised $72m in its initial public offering on Wednesday, providing exits to pharmaceutical firms GlaxoSmithKline (GSK), Sanofi and WuXi AppTec.
The company issued 4.5 million shares priced at $16 each to list on the Nasdaq Global Market. Shares suffered a drop to $12.86 on the first day of trading, before rising slightly back up to $13.50, giving Fulcrum a market cap of $315m.
Founded in 2015, Fulcrum is developing therapies for rare…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
