Vir Biotechnology Inc. announced the price range of its planned IPO on Nasdaq.
The San Francisco-based immunology company plans to sell 7,142,858 common shares at $20 to $22 apiece. The shares will be listed under the ticker symbol VIR on the Nasdaq Global Select Market.
The company is supported by a group of investors including a subsidiary of the Abu Dhabi Investment Authority, Arch Venture Partners LP, the Alaska Permanent Fund Corp., the Bill & Melinda Gates Foundation, the SoftBank Vision Fund and Singapore's state-owned Temasek fund.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Cowen and Co. LLC and Barclays Capital Inc. are the underwriters for the IPO and can buy up to an additional 1,071,428 shares from the company.
The company, which is focused on creating therapies that strengthen the immune system to treat serious infectious diseases, previously announced a $100 million IPO but did not disclose the number of shares to be listed.
The immunology company plans to use net proceeds from the IPO to complete a phase 1/2 clinical trial and fund related manufacturing needs for its experimental hepatitis B drug VIR-2218.
