Israeli therapeutics company PolyPid Ltd. has filed a prospectus to raise $86 million on Nasdaq. The company did not disclose a company value but market sources estimate it at $300-400 million after money.
Goldman Sachs, Cowen & Company and Cantor Fitzgerald are the joint bookrunners on the deal.
Based in Petah Tikva, PolyPid is a clinical-stage pharmaceutical company with an initial focus on antibiotics for the prevention and treatment of post-surgical site infections.
The company first filed in October 2014 to raise $20 million in an IPO at a company value of $80 million before money but withdrew the prospectus in 2015 and in 2016 received a private investment of $22 million instead.
PolyPid's main shareholders include Morris Kahn (18.3%), Shavit Capital (9.1%), Xenia Venture Capital Ltd. (TASE:XENA) (6.1%) and investors including Leon Recanat, Haim Hurvitz, and Eitan Kyiet.
Published by Globes [online], Israel business news - www.globes-online.com - on February 11, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018