India, April 20 -- Kailera Therapeutics, Inc (KLRA)., a portfolio company of London-listed RTW Biotech Opportunities Ltd, completed a $625 million initial public offering that set a record as the largest-ever biotech IPO by proceeds, RTW Bio said on Monday.
The company said that the IPO was upsized from $500 million, with 39 million shares priced at $16 each. That valuation marked a 47 percent increase from RTW Bio's carrying value as of March 31 and a 49 percent gain on cost.
Kailera began trading on the Nasdaq under ticker 'KLRA' on April 17. Shares closed the first day up 62.5 percent at $26, pushing the valuation uplift to 139 percent versus RTW Bio's March 31 holding value and 143 percent versus cost.
Before the IPO, Kailera made up...