vVardis Holding, which sells proprietary non-invasive treatments for cavities, lowered the proposed deal size for its upcoming IPO on Thursday.
The Zug, Switzerland-based company now plans to raise $188 million by offering 8.3 million shares at a price range of $21 to $24. The company had previously filed to offer 9.5 million shares at the same range. At the midpoint, vVardis Holding will raise 13% less in proceeds than previously anticipated and command a fully diluted market value of $1.4 billion.
Based in Switzerland, vVardis develops and sells Curodont, a peptide-based treatment for early-stage cavities that is applied in a dental office in five minutes or less, with no drilling or needles. Its US product, Curodont Repair Fluoride Plus, is marketed as an over-the-counter drug under an FDA monograph and generates the vast majority of revenue. A fluoride-free version, Curodont Repair, is sold as a medical device in the UK and parts of Europe.
vVardis Holding was founded in 2020 and booked $50 million in revenue for the 12 months ended June 30, 2026. It plans to list on the NYSE under the symbol VVVV. Goldman Sachs, J.P. Morgan, William Blair, UBS Investment Bank, and Deutsche Bank are the joint bookrunners on the deal. It is expected to price during the week of Monday November 9, 2026.
