August 14 (Reuters) – CureVac BV said Friday it raised $ 213.3 million in its initial public offering in New York, setting the stage for the first stock market debut of a company developing a potential vaccine to fight the coronavirus. .
The German biotechnology firm, backed by Microsoft Corp. founder and billionaire Bill Gates, sold $ 13.33 million worth of shares at the bottom of its price range between $ 14 and $ 16 per share.
CureVac is researching how to use messenger RNA to treat a range of diseases, including coronavirus. It is an experimental approach that has also been adopted by some of its peers, including Moderna Inc and BioNTech SE.
Bank of America, Jefferies and Credit Suisse are leading entrepreneurs in IPOs. CureVac shares will start trading on the Nasdaq on Friday under the ‘CVAC’ symbol. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shounak Dasgupta)