Norovirus vaccine developer HilleVax (HLVX) has filed to hold a $ 100m initial public offering.
The company said in an amended filing on Monday that it plans to list its shares on Nasdaq under the symbol HLVX. In its S-1 filing earlier this month, HilleVax said it was seeking to raise up to $ 100M, but the number is likely a placeholder and subject to change.
Lead underwriters include JP Morgan, SVB Leerink, Stifel and Guggenheim Securities.
HilleVax has been developing vaccine called HIL-214 for the prevention of moderate-to-severe acute gastroenteritis caused by norovirus infection. The company is planning to develop the product first for the pediatric market and hopes to begin Phase 2B testing for infants during the second half of the year.
HIL-214 is licensed from Japanese pharmaceutical giant Takeda (TAK), which holds a roughly 9% stake in HilleVax. Healthcare VC firm Frazier Life Sciences holds a 44% position in the biotech company. The company was founded by a former chief scientific officer for Takeda.
A development stage company, HilleVax reported a net loss of $ 102M with zero revenue for 2021.
For a more in-depth look at HilleVax, check out SA contributor Donovan Jones’s “HilleVax Targets $ 100M IPO for Acute Gastroenteritis Vaccine”.