August 14 (Reuters) – CureVac BV on Friday said it had raised $ 213.3 million in an IPO in New York, paving the way for a market launch A company’s first stock is developing a potential vaccine to fight coronavirus.
The German biotech company, backed by Microsoft Corp founder and billionaire Bill Gates, sold 13.33 million shares for $ 16 per share, the highest price in the range from $ 14. up to 16 USD / share.
CureVac is working on using messenger RNA to treat a variety of diseases, including the coronavirus. This is an experimental approach that has also been adopted by several industry peers, including Moderna Inc and BioNTech SE.
Bank of America, Jefferies and Credit Suisse were the main sponsors of the IPO. CureVac shares will start trading on the Nasdaq on Friday under the symbol ‘CVAC’. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shounak Dasgupta)