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BioVersys sets IPO price at CHF 36.00 per share ahead of SIX Swiss Exchange debut

29.01.2025

BioVersys AG, a clinical-stage biopharmaceutical company dedicated to developing novel antibacterial treatments for life-threatening infections, has announced the price for its Initial Public Offering (IPO) on the SIX Swiss Exchange. The price has been set at CHF 36.00 per share, with the company targeting gross proceeds of CHF 75 million, which could rise to CHF 80 million if the over-allotment option is fully exercised.

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"As a scientific founder, the educational programs organized
and co-organized by Venturelab, such as the SIX IPO Academy,
provide very valuable toolboxes that you need
during your entrepreneurial path,"
 
Marc Gitzinger, Co-Founder and CEO of BioVersys

BioVersys, a clinical-stage biopharmaceutical company specializing in the development of novel antibacterial products for life-threatening infections caused by multidrug-resistant (MDR) bacteria, has announced the publication of its prospectus and the commencement of the book-building process for its Initial Public Offering (IPO) on the SIX Swiss Exchange. The IPO, set for the first quarter of 2025, is expected to raise CHF 75 million in gross proceeds, with the option to increase to CHF 80 million through an over-allotment option.

The offered shares are priced at CHF 36.00 each, marking the base offer size at approximately CHF 75 million. If the over-allotment option is exercised, the offer size could reach approximately CHF 80 million, bringing the company’s estimated market capitalization to CHF 212.9 million.

The IPO is expected to be included in the Swiss Performance Index (SPI) on its second trading day, February 10, 2025. On the first day of trading, the free float is anticipated to be up to 28%.

BioVersys intends to allocate the majority of the proceeds from the Offering to the development of its lead asset, BV100, with the remaining funds dedicated to the clinical development of its second lead asset, Alpibectir, in collaboration with GSK. Additionally, the company plans to use part of the funds for its preclinical pipeline, ensuring continued progress on its fast-follower assets towards clinical development.
 
Venture Kick was really kicking BioVersys out of its comfort zone
and into full-start mode. Funny anecdote: During one of the kickers' camps was
my first outreach to our now long-term partner GSK...
...talking impact of Venture Kick!

 

The IPO consists of up to 2,083,333 newly issued shares, along with an over-allotment option for up to 138,888 shares. The book-building process will run from January 29 to February 5, 2025, with the final offer size expected to be published on February 6, 2025. The first day of trading is slated for February 7, 2025.

Notably, Glaxo Group Limited (GSK) has committed to invest CHF 3.5 million in the Offering, while the AMR Action Fund has pledged CHF 16.0 million. Both GSK and the AMR Action Fund's investments underscore the confidence in BioVersys' innovative approach to tackling antibiotic resistance.

The Company’s directors and executive management have agreed to a customary lock-up period of 360 days while existing shareholders are committed to a 180-day lock-up period.

Citi, UBS, and Stifel are acting as joint global coordinators, with Octavian and Mirabaud serving as selling agents. The offering and listing prospectus has been approved by the Prospectus Office of SIX Exchange Regulation and is available free of charge through UBS.

BioVersys was awarded several years with the TOP 100 Swiss Startups label, won Venture Kick, participated in two Venture Leaders programs—in China and the US—and took part in the first SIX IPO Academy in 2022 to prepare and equip TOP 100 scaleups for a potential IPO on the Swiss Stock Exchange.


Dr. Sergio Lociuro (Chief Scientific Officer) and Marc Gitzinger (CEO)

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