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Rare disease biotech argenx sets terms for $65 million US IPO

May 8, 2017
ARGX

argenx, which is developing antibody therapies for rare autoimmune diseases and cancer, announced terms for its US IPO on Monday.

The Breda, Netherlands-based company plans to raise $65 million by offering 3.6 million ADSs at a price of $18.18, its last reported price on the Euronext Brussels (EBR: ARGX). At that price, argenx would command a fully diluted market value of $454 million.

argenx was founded in 2008 and booked $18 million in revenue for the 12 months ended December 31, 2016. It plans to list on the Nasdaq under the symbol ARGX. Cowen & Company and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of May 15, 2017.