Controlled Drug Release Company Polypid Attempts Second Nasdaq IPO
The Israel-based company is looking to raise up to $86.25 million to fund clinical development and trials and manufacturing activities
Israel-based biotech company Polypid Ltd. is looking to raise up to $86.25 million in an initial public offering on Nasdaq, according to a prospectus filed with the U.S. Securities and Exchange Commission on Thursday.In October, Calcalist reported that Polypid is looking to raise $70 million at a Nasdaq IPO according to a value of $300 million, citing people familiar with the matter who spoke on conditions of anonymity. The company has also held a pre-IPO funding round led by China-based investors according to a company value of $160-$170 million, these people said.
For daily updates, subscribe to our newsletter by clicking here.Polypid listed five underwriters for the IPO: Goldman Sachs, Oppenheimer & Co., Cowen Inc., Cantor Fitzgerald & Co. and Raymond James Financial.