Gene therapy biotech Celyad sets terms for $99 million US IPO

Celyad, a Belgian biotech developing gene therapies for cardiovascular diseases and cancer, announced terms for its IPO on Monday. The Mont-Saint-Guibert, Belgium-based company plans to raise $99 million by offering 1.4 million shares at $70.98 per share. At IPO price, Celyad would command a fully diluted market value of $674 million. 

Celyad, which was founded in 2007, plans to list on the NASDAQ under the symbol CYAD. Celyad initially filed confidentially on March 31, 2015. UBS Investment Bank and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of June 15, 2015.