Virginia Tech spinout Landos Biopharma priced its shares at $16 to raise $100m and will use proceeds to advance the development of two treatments for inflammatory bowel disease.
Landos Biopharma, a US-based autoimmune disease treatments developer based on research at Virginia Tech, issued nearly 6.3 million shares priced at $16 on Wednesday to raise $100m in its initial public offering.
The pricing marks the midpoint of a $15 to $17 range and gave Landos a market value of $650m. It began trading on the Nasdaq Global Select Market yesterday using the ticker symbol LABP, with shares dropping to $12.50 at close.
Founded in 2017, Landos…
