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Vascular Biogenics nets $37.2mm through IPO
29 Oct 2014
Executive Summary
Vascular Biogenics Ltd. (Israeli biotech also known as VBL Therapeutics; cancer and inflammatory disease therapies) netted $37.2mm through its US IPO. The company sold 6.67mm shares at $6, well below the firm's intended range of 5.4mm shares at $13-15 set back in August. (VBL thought it had completed the offering at the end of the summer for net proceeds of $60mm, but quickly recanted after a key investor didn't follow through on a commitment to buy roughly half of the IPO shares. VBL now successfully closed the offering on a much smaller scale.)
Deal Industry
- Pharmaceuticals
-
Biotechnology
- Gene Therapy, Cell Therapy
Deal Status
- Final
Deal Type
-
Financing
- IPO
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Vascular Biogenics nets $37.2mm through IPO
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