According to Reuters Lausanne based biotech company AC Immune has filed for U.S. IPO. AC Immune wants to raise $50million. Its the second IPO of a Swiss biotech company in 2016.
In total, AC Immune had raised over CHF 120 million from private investors. The last – Series E – financing round was announced only a few weeks ago.
According to Reuters the proceeds from the IPO will be used to develop products, including Alzheimer's drug crenezumab. AC Immune intends to list its common stock on the Nasdaq.
AC Immune is a clinical stage Swiss-based biopharmaceutical company focused on neurodegenerative diseases with three product candidates in clinical trials. The Company designs, discovers and develops therapeutic and diagnostic products intended to prevent and modify diseases caused by misfolding proteins. AC Immune’s two proprietary technology platforms create antibodies, small molecules and vaccines to address a broad spectrum of neurodegenerative indications. Alzheimer’s disease (AD) is the largest indication addressed by AC Immune’s products but the company’s therapies are designed to address other neurodegenerative diseases such as Parkinson’s, Down syndrome, and glaucoma as well. The Company’s pipeline features seven therapeutic and three diagnostic product candidates.
It the second IPO of a Swiss Biotech company in 2016. In April GeNeuro went public on Euronext Paris.
Picture: Fotalia.com - Gary
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