The aldehyde disease specialist, in which Johnson & Johnson owns a 44.5% stake, could potentially raise up to $27.6m from the initial public offering.

Aldeyra Therapeutics, a Johnson & Johnson-backed biotechnology company based in the USA, has raised the size of its initial public offering from $20m to an estimated $22m.

Aldeyra will issue 2 million shares and has set the range for the IPO at between $10.00 and $12.00. An additional 300,000 shares could be issued if underwriter Aegis Capital takes up the 30-day option to purchase them, which would increase the maximum proceeds to $27.6m. Aldeyra initially filed for a $20m IPO…