Lundbeck-backed pruritus therapy developer Trevi Therapeutics raised $55m when it floated, but had to price its shares significantly below its range.
Trevi Therapeutics, a US-based pruritus treatment developer backed by pharmaceutical firm Lundbeck, has floated in a $55m initial public offering on the Nasdaq Global Market.
The company issued 5.5 million shares priced at $10 each, a drop from the IPO’s $14 to $16 range, and they closed at $8.27 on Friday. Venture capital firm and existing backer New Enterprise Associates (NEA) bought another $15m of shares in a private placement.
Founded in 2011, Trevi is developing an oral therapy…
