BioNTech, a German biotech developing individualized immunotherapies for cancer, announced terms for its IPO on Tuesday.
The Mainz, Germany-based company plans to raise $251 million by offering 13.2 million ADSs at a price range of $18 to $20. At the midpoint of the proposed range, BioNTech would command a fully diluted market value of $4.5 billion.
BioNTech was founded in 2008 and plans to list on the Nasdaq under the symbol BNTX. J.P. Morgan, BofA Merrill Lynch, UBS Investment Bank and SVB Leerink are the joint bookrunners on the deal. It is expected to price during the week of October 7, 2019.
