Johannes Gutenberg University of Mainz's cancer therapy developer raised $150m despite reducing the number of shares in the IPO and floating beneath its range.
Biontech, a Germany-based immuno-oncology therapy spinout of Johannes Gutenberg University of Mainz, will go public on the Nasdaq Global Select Market today in a $150m initial public offering.
The company priced 10 million American Depositary Shares, each equating to one normal share, at $15 this morning, giving it a fully diluted valuation of $3.9bn. It had originally intended to issue 13.2 million ADSs priced between $18 and $20 per share.
Founded in 2008, Biontech is developing cancer treatments…
