Kailera raises $625M in largest biotech IPO for obesity peptides
The Hengrui-derived obesity biotech priced just under 40 million shares at $16, topping Moderna's $600 million 2018 debut.
The wire
- 01Kailera Therapeutics began trading on the Nasdaq as KLRA on Friday after raising $625 million, exceeding its own $610 million target including underwriter options.
- 02Lead asset ribupatide is a GLP-1/GIP dual agonist licensed from Jiangsu Hengrui, developed in both injectable and oral forms, signaling more incretin competition ahead.
- 03Underwriters hold further options to buy shares at the offering price; ribupatide's late-stage data are still years away, and the raise follows Pfizer's roughly $10 billion Metsera purchase.
From the source
Read at biospace.comUPDATE: Kailera breaks biotech IPO record with $625M debut
Kailera Therapeutics has landed on the Nasdaq with a record-breaking $625 million raise, firmly declaring that biotech is back on the public markets.