Vascular Biogenics prices IPO at $12, below the range

Vascular Biogenics, which is developing gene therapies for cancer and small molecules for inflammation, raised $65 million by offering 5.4 million shares at $12, below the range of $13 to $15. Vascular Biogenics plans to list on the NASDAQ under the symbol VBLX. Vascular Biogenics initially filed confidentially on 3/25/2014. Deutsche Bank and Wells Fargo Securities acted as lead managers on the deal.