Goldman-backed biotech Septerna targets $628 mln valuation in US IPO
Adds analyst comments in paragraphs 5 and 8
By Niket Nishant
Oct 21 (Reuters) -Septerna, a nearly three year-old drug developer backed by Goldman Sachs GS.N, is aiming for a valuation of up to $628 million as it prepares to go public in a booming market for biotech listings.
The company is looking to raise up to $186 million by selling 10.9 million shares priced between $15 and $17 each, it said on Monday.
Recently listed biotech firms, including those that are yet to generate revenue, have thrived post their initial public offerings.
Investors, who had often been selective about backing new public companies in the last two years, looked past biotechs' financials and focused on other signs of maturity such as having products in clinical trials.
"Strong clinical data is helping to attract investor attention," said Joe Endoso, CEO of private investment platform Linqto.
While Septerna has not yet fetched any revenue from product sales, its lead candidate SEP-786, an oral drug to treat hypoparathyroidism, is being evaluated in an early-stage clinical trial.
Optimism spurred by the U.S. Federal Reserve's policy easing and a stock market rally could also enhance Septerna's prospects in the IPO market.
"Many life sciences firms delayed their IPOs during more challenging market conditions and are now seizing the opportunity as the market recovers," Endoso said.
California-based Septerna is developing G-protein-coupled receptor (GPCR) therapies. GPCR is a class of proteins that serve as a main conduit for chemicals to get past a cell's membrane and be taken up by a cell.
The significance of GPCR was recognized in 2012 when the Nobel Prize for chemistry was awarded to two American scientists who pioneered research in the field.
J.P. Morgan, TD Cowen, Cantor and Wells Fargo Securities are the underwriters for Septerna's IPO.
Goldman owns a 5.4% stake in the company, while healthcare-focused venture capital firm Third Rock Ventures holds 33.5%.
Reporting by Niket Nishant and Bhanvi Satija in Bengaluru; Editing by Shilpi Majumdar
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
