BioAge Labs Inc., a clinical-stage biotechnology company developing therapies to treat obesity and metabolic disease, is seeking to raise up to $157.5 million in an initial public offering and a private placement.
The company is offering 7.5 million shares at a price range of $17 to $19 per share, according to a report. submit application Wednesday with the U.S. Securities and Exchange Commission. Separately, Sofinnova Venture Partners XI LP, an existing shareholder, is expected to buy about $15 million of shares at the IPO price in a private offering.
At the top price, BioAge would have a market value of about $587 million, based on the number of outstanding shares listed in the filing.
BioAge, based in Richmond, California, was valued at $394 million after raising $194 million in a Series D round in February, according to data provider PitchBook.
The filing shows the company’s largest shareholders are co-founder and CEO Kristen Fortney, who controls 9.8% of the company, and entities affiliated with Andreessen Horowitz and Khosla Ventures, which hold 9.4% and 8% beneficial ownership, respectively.
The supply is being driven by Goldman Sachs Inc., Morgan Stanley, Jefferies Financial Group Inc. and Citigroup Inc. The company plans to trade its shares on Nasdaq Global market with stock code BIOA.
