Israeli co PolyPid files for $86m Nasdaq IPO

Israeli co PolyPid files for $86m Nasdaq IPO

PolyPid is a clinical-stage pharmaceutical company with an initial focus on antibiotics for the prevention and treatment of post-surgical site infections.

Israeli therapeutics company PolyPid Ltd. has filed a prospectus to raise $86 million on Nasdaq. The company did not disclose a company value but market sources estimate it at $300-400 million after money.

Based in Petah Tikva, PolyPid is a clinical-stage pharmaceutical company with an initial focus on antibiotics for the prevention and treatment of post-surgical site infections.

The company first filed in October 2014 to raise $20 million in an IPO at a company value of $80 million before money but withdrew the prospectus in 2015 and in 2016 received a private investment of $22 million instead.

PolyPid’s main shareholders include Morris Kahn (18.3%), Shavit Capital (9.1%), Xenia Venture Capital Ltd. (TASE:XENA) (6.1%) and investors including Leon Recanat, Haim Hurvitz, and Eitan Kyiet.

Published by Globes [online], Israel business news – www.globes-online.com – on February 11, 2018

http://www.globes.co.il/en/

February 13, 2018 / Pharma News