The pharmaceutical company, which is developing treatments for disorders including neuropathic pain and Crohn's Disease, is backed by investors including AbbVie.

Virobay, a US-based biopharmaceutical company backed by investors including pharmaceutical company AbbVie, filed for a $50m initial public offering yesterday,

The company will use the proceeds from the IPO to fund Phase 2 clinical development of its lead product candidate, VBY-036, for neuropathic pain and Crohn’s disease, and clinical development for some of its additional candidates. Its candidates are all based around enyme inhibitors.

AbbVie is the fourth largest shareholder in Virobay, holding a 16.4% stake. TPG Biotech, a subsidiary…