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AC Immune prices $66M IPO

14:27 EDT 22 Sep 2016 | BioCentury

Neurodegeneration company AC Immune S.A. (NASDAQ:ACIU) raised $66 million through the sale of 6 million shares at $11 in an IPO underwritten by Credit Suisse, Jefferies and Leerink. The price valued the company at $609.4 million. AC Immune expects its shares to begin trading on Friday.

On Wednesday, AC Immune said it hoped to sell 6 million shares at $11-$13. Last week, it proposed to sell 4.5 million shares at the same price range.

AC Immune's lead program is crenezumab (RG7412), a humanized mAb against beta amyloid to treat prodromal to mild Alzheimer's disease. Its partner, the Genentech Inc. unit of Roche (SIX:ROG; OTCQX:RHHBY), began a Phase III study of the candidate in 1Q16.

Original Article: AC Immune prices $66M IPO

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