BioAge Labs Inc., a clinical-stage biotechnology company developing therapies for obesity and metabolic diseases, is in search of to lift as much as $157.5 million in its initial public offering and a non-public placement.
The company is offering 7.5 million shares for $17 to $19 each, in line with a submission Wednesday on the U.S. Securities and Exchange Commission (SEC). Separately, Sofinnova Venture Partners XI LP, an existing shareholder, is anticipated to buy roughly $15 million value of shares on the IPO price in a non-public placement.
At the upper end of the value range, BioAge would have a market value of roughly $587 million based on the outstanding shares listed within the filing.
Richmond, California-based BioAge had a valuation of $394 million after raising $194 million in a Series D funding round in February, in line with data provider PitchBook.
The largest shareholders include co-founder and CEO Kristen Fortney, who controls 9.8 percent of the corporate, and affiliates of Andreessen Horowitz and Khosla Ventures, with 9.4 percent and eight percent helpful ownership, respectively, in line with filings.
The offering is led by Goldman Sachs Group Inc., Morgan Stanley, Jefferies Financial Group Inc. and Citigroup Inc. The company plans to trade its shares on the Nasdaq Global Market under the symbol BIOA.
