Arsanis prices $40M IPO for infectious disease work
Arsanis, a New Hampshire biotech co-founded by Adimab’s Tillman Gerngross, has priced its IPO lower than originally expected, bumping the expected total raise down to $40 million.
The company is selling 4 million shares at $10 apiece. Arsanis previously said it would sell 3.13 million shares at $15-$17 per share.
Arsanis got its pipeline of infectious disease programs from Gerngross’ Adimab. Proceeds from the IPO will go towards developing the company’s lead program ASN100, which is in Phase II trials for the prevention of pneumonia in high risk, mechanically ventilated patients. There are no approved therapies in this indication, and the company likes the way their lead therapy compares to rivals in the clinic, according to the company’s S-1:
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