VetMedUni biopharmaceutical spinout Marinomed Biotech has completed its IPO to attain a market cap of $109m.
Marinomed Biotech, an Austria-based biopharmaceutical spinout of University of Veterinary Medicine Vienna (VetMedUni), has completed its initial public offering (IPO) on the Vienna Stock Exchange at a market capitalisation of €95.1m ($109m), MondoVisione reported on Friday.
Shares were priced at $86.40 each, slightly higher than the $85.80 target, which had been expected to raise $25.6m for Marionmed Biotech based on the sale of 299,000 shares. Marinomed’s stock price had risen to approximately $87 per share at the time of…
