Israeli co PolyPid files for $86m Nasdaq IPO

Nasdaq Photo: Reuters

PolyPid is a clinical-stage pharmaceutical company with an initial focus on antibiotics for the prevention and treatment of post-surgical site infections.

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

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Nasdaq Photo: Reuters
Nasdaq Photo: Reuters
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