Lilly Asia Ventures achieved an exit as the gastrointestinal and liver disease drug developer priced its initial public offering in the middle of its range.
Metacrine, a liver and gastrointestinal disease therapy developer backed by pharmaceutical firm Eli Lilly, floated yesterday in an $85m initial public offering on the Nasdaq Global Market.
The offering was made up of 6.54 million shares priced at $13.00 each, in the middle of the offering’s $12 to $14 range. The company’s shares opened at $14.39m on their first day of trading yesterday before closing at $11.76.
Founded in 2015, Metacrine is developing treatments for gastrointestinal and liver disease…
