VectivBio with strong debut on Nasdaq

Although VectivBio was founded only In 2019, the company has already one product candidate in Phase III clinical trials. Apraglutide is a therapeutic for a range of rare gastrointestinal diseases, with an initial focus on short bowel syndrome, or SBS. Two months ago VectivBio had announced that the first patient has been dosed in its pivotal phase 3 trial of apraglutide in SBS.

The fast development was possible, because VectivBio was founded through a spin-off of the apraglutide program from Therachon Holding AG, a rare disease focused company, following its acquisition by Pfizer for an upfront payment of $340 million and additional milestone payments of up to $470 million. Therachon's former chief executive officer, chief financial officer, chief medical officer and chief business officer joined the executive team of the spin-out. Before the IPO the company has raised approximately $144 million in private financings from leading biotechnology investors.

On Friday the Basel-based company went public on the Nasdaq Global Select Market. On Tuesday Vectiv announced the closing of its initial public offering of 8,625,000 ordinary shares, which includes the full exercise of the underwriters’ option to purchase an additional 1,125,000 ordinary shares, at a public offering price of $17.00 per share. The gross proceeds from the offering were approximately $146.6 million. All of the ordinary shares were offered by Vectiv.

VectivBio is the fourth Swiss biotech company that went public this year on Nasdaq joining NLS Pharmaceutics, Pharvaris and Gain Therapeutics.

Vectiv’s current product pipeline is focused on rare gastrointestinal, or GI, disorders. Based on preclinical and clinical data to date, apraglutide has – according to the company - the potential to advance the treatment of SBS intestinal failure, or SBS-IF, by establishing less frequent dosing and improve clinical outcomes. Currently being evaluated in a global Phase 3 clinical trial for the treatment of patients with SBS-IF, apraglutide’s therapeutic potential in additional rare GI conditions, such as graft versus host disease, will be also evaluated.

In addition, the company intends to license or acquire additional transformational, differentiated rare disease assets. Vectiv’s goal is to build a leading, fully integrated global rare disease company.