VC-backed ProQR raises $97.5m in IPO

The company sold 7.5 million shares at a price of $13 each, resulting in net proceeds of $88.4m after fees. The listing gave it a market cap of $272.5m.

ProQR began trading on the Nasdaq yesterday (18 September) under the ticker "PRQR". Leerink Partners and Deutsche Bank Securities acted as joint bookrunners for the flotation, while JMP Securities was appointed lead manager alongside co-manager HC Wainwright & Co.

The company filed for its IPO in August. At the time, Sofinnova was one of ProQR's biggest shareholders with a 17.2% stake, while Gilde held a 5.3% stake.

Sofinnova invested in ProQR in 2013, providing the company with seed funding, and led its €42m series-A round in April this year, in which Gilde participated.

Company
Founded in 2012 and headquartered in Leiden, ProQR develops drugs designed for the treatment of genetic disorders. It is currently working on a treatment for cystic fibrosis. The company employs 50 staff.

People
Daniel de Boer is the CEO of ProQR. Gilde partner Arthur Franken manages the firm's investment in the company. Managing partner Antoine Papiernik represents Sofinnova.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Benelux
• Healthcare
• Exits
• Netherlands
• Gilde Investment Management
• Sofinnova Partners
• IPO
• NASDAQ