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Norovirus vaccine developer HilleVax (HLVX) has filed for a $100 million IPO.
The company said in an amended filing Monday that it plans to list its shares on the Nasdaq under the symbol HLVX. In its S-1 filing earlier this month, HilleVax said it’s aiming to raise up to $100 million, but the number is likely a placeholder and subject to change.
Lead underwriters include JP Morgan, SVB Leerink, Stifel and Guggenheim Securities.
HilleVax developed the vaccine, called HIL-214, to prevent moderate to severe acute gastroenteritis caused by norovirus infection. The company plans to develop the product for the pediatric market first and hopes to begin Phase 2B trials in infants in the second half of the year.
HIL-214 is licensed from Japanese pharmaceutical giant Takeda (TAK), which owns approximately 9% of HilleVax. Healthcare VC firm Frazier Life Sciences holds a 44 percent stake in the biotech. The company was founded by a former Takeda Chief Scientific Officer.
HilleVax, a development-stage company, reported a net loss of $102 million on zero revenue for 2021.
For a deeper dive into HilleVax, read Donovan Jones, SA contributor, “HilleVax Targets $100M IPO for Acute Gastroenteritis Vaccine”.
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