Nuclear therapy biotech Advanced Accelerator Apps sets terms for $75 million IPO

Advanced Accelerator Applications, which sells PET scan imaging tracers and is developing a treatment for rare tumors, announced terms for its IPO on Tuesday. The Saint Genis Pouilly, France-based company plans to raise $75 million by offering 5.4 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Advanced Accelerator Applications would command a fully diluted market value of $538 million.

Advanced Accelerator Applications, which was founded in 2002 and booked $82 million in sales for the 12 months ended September 30, 2014, plans to list on the NASDAQ under the symbol AAAP. Citi and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of February 2, 2015.