Nan Fung-backed mitochondrial therapy developer Stealth BioTherapeutics floated at the foot of its range to raise $78m, having disclosed $100m in financing last June.

Stealth BioTherapeutics, a US-based mitochondrial dysfunction drug developer that counts an affiliate of property development conglomerate as an investor, has floated in a $78m initial public offering.

The offering consisted of 6.5 million American Depositary Shares (ADSs), each of which represent 12 ordinary shares, priced at $12.00 each, at the bottom of its $12 to $14 range. The company listed on the Nasdaq Global Market on Friday and its shares closed at $11.90 yesterday.

Stealth Bio is developing…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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