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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