Agios sets out to raise $150M; AC Im­mune IPO sets val­u­a­tion at $700M

In biotech, you raise mon­ey when you can. And just days af­ter Agios $AGIO spelled out plans for a shot at two ac­cel­er­at­ed ap­proval plans for its two top drugs, CEO David Schenkein isn’t about to let the op­por­tu­ni­ty pass. Agios has filed to sell $150 mil­lion in shares to cov­er up­com­ing tri­al ex­pens­es.

AC Im­mune has set a range for its up­com­ing IPO. The Alzheimer’s com­pa­ny, which is close­ly al­lied with Roche on crenezum­ab, hopes to sell 4.55 mil­lion shares at $11 to $13 a share, which Reuters re­ports will val­ue the com­pa­ny at close to $700 mil­lion. At that range, it could earn up to $59 mil­lion on the high end. The Swiss biotech, run by CEO An­drea Pfeifer, has gar­nered sig­nif­i­cant sup­port from Ger­man bil­lion­aire Di­et­mar Hopp.

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