Novartis-backed Nabriva has floated on Nasdaq, raising the amount of proceeds it expected when it filed in June 2015.

Austria-based biopharmaceutical company Nabriva Therapeutics, backed by pharmaceutical firm Novartis, has priced its initial public offering at $92.3m, selling nine million American Depositary Shares (ADS) at $10.25.

The ADS represent a total of 900,000 common shares. The company floated on Nasdaq on Friday, when the depositary shares increased to $13.24.

Established in 2006, Nabriva is working on anti-infective antibiotics targeting serious infections. Lefamulin, the company’s lead drug candidate, targets pneumonia.

The proceeds will support clinical development of lefamulin for community-acquired…