Ayala Pharmaceuticals Headed for Nasdaq IPO
The Israel-based cancer treatment developer wants to raise $100 million according to a $400 million company valuation
Golan Hazani | 16:40 07.01.2020
Israel-based Ayala Pharmaceuticals Inc., a clinical-stage company developing therapies for genetically-defined cancers, is planning a Nasdaq initial public offering (IPO) according to a company valuation of $400 million, two people familiar with the matter told Calcalist Monday on condition of anonymity. Ayala is looking to raise $100 million, these people said, adding that the company has already tapped two U.S. banks to lead the IPO. According to the people’s estimates, the chosen banks are Citi Bank and Jefferies Group LLC.