The corporate-backed small molecule therapeutic developer has boosted its initial public offering from $90m to nearly $104m.

US-based integrin drug developer Morphic Holding, which counts pharmaceutical companies AbbVie, Novo, Pfizer, GlaxoSmithKline (GSK) and ShangPharma as investors, closed its initial public offering at approximately $104m yesterday.

The company had floated on the Nasdaq Global Market in a $90m IPO last week, pricing 6 million shares at $15.00 each. The shares closed at $18.00 on their first day of trading and were $22.67 by the close of trading yesterday.

Joint bookrunning managers Jefferies, Cowen and Company, BMO Capital…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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