Morphic began trading on the Nasdaq Global Market yesterday after issuing 6 million shares priced at $15 each, providing exits to AbbVie, GSK, Novo, Pfizer, Schrödinger and ShangPharma.

Morphic Therapeutic, a US-based biotechnology developer backed by corporates AbbVie, GlaxoSmithKline, Novo, Pfizer, Schrödinger and ShangPharma, raised $90m in its initial public offering yesterday.

The company issued 6 million shares on the Nasdaq Global Market priced at $15 each, in the middle of the IPO’s range, valuing it at approximately $444m. The offering is expected to conclude on July 1, and the company’s shares closed at $18.00 in their first day of trading.

Founded in 2015, Morphic is developing…

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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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