Biotech company Bioversys is first IPO in 2025
Keystone-SDA
The Basel-based biotech company BioVersys made the first initial public offering (IPO) of the year in Switzerland on Friday. Shares started trading on the SIX Swiss Exchange at CHF36.50 ($40.25).
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This gave the company a market capitalisation of CHF216 million. The share price then fell slightly and was still quoted at CHF36 in the first hour of trading. A total of around 47,000 shares had been traded by then.
BioVersys has offered just under 2.1 million shares in the company as part of the bookbuilding process. In addition, there may be an over-allotment option of just under 139,000 shares.
Focus on antibiotics
The biotech company will thus generate proceeds of CHF80 million from the IPO. According to management, the money will primarily be used to finance the main product BV100.
The Basel-based company focuses on the treatment of life-threatening infectious diseases. It concentrates on antibiotics.
BV100 is reportedly used to treat hospital infections with carbapenem-resistant Acinetobacter baumannii (CRAB). The money will be used to take the antibiotic through clinical phase III, the company explained.
‘Milestone’
“Today marks an important milestone for BioVersys as we take the next step in our growth strategy,” said CEO Marc Gitzinger in a statement issued by the SIX Swiss Exchange.
Existing shareholders had already committed in advance to subscribe for shares. The Glaxo Group had invested CHF3.5 million in the offer. The AMR Action Fund also bought shares offered by the company.
The head of the Swiss stock exchange, Bjørn Sibbern, is also pleased about the IPO. “It is a good example of how a biotech company prefers an IPO on SIX Swiss Exchange to an IPO overseas,” he said.
Translated from German by DeepL/ts
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