Stork Capital Backs Connect Biopharama
Connect Biopharma lists on NASDAQ raising US$191.3m
San Diego, California, March 2021– Stork Capital affiliates, along with leading US and Asian global biotech investors, participated in Connect Biopharma Holdings’ initial public offering of 11,250,000 American Depositary Shares (“ADSs”), representing 11,250,000 ordinary shares of the company, at a public offering price of US$17.00 per ADS, raising a total of approximately US$191 million. ADSs began trading on the Nasdaq Global Market on March 19, 2021 under the ticker symbol “CNTB”, with a market cap of US$ 1 billion.
Connect Biopharma is a global clinical-stage biopharmaceutical company dedicated to improving the lives of patients with chronic inflammatory diseases through the development of therapies derived from T cell-driven research.
“We are very pleased to participate in Connect’s IPO, which was very well received by the investor community. The company is developing a portfolio of innovative best in class medicines for inflammatory diseases that have the potential to dramatically improve patient lives,” said Kleanthis G. Xanthopoulos, Ph.D., Chairman of Stork Capital Life Sciences. “We look forward to monitoring the company’s progress which has multiple near term clinical milestones.”
Kleanthis is a member of the company’s board of directors.
About Stork Capital
Stork Capital is a Geneva based regulated asset manager, providing wealth management solutions to sophisticated private clients, and offering a differentiated investment program in private markets and life sciences. Stork Capital’s founders have a successful 20-year track record investing globally in private markets and life sciences.