UPDATE 1-Swiss biotech firm Molecular Partners plans IPO

Tue Sep 23, 2014 1:53am EDT

(Adds bookrunners, detail)

ZURICH, Sept 23 (Reuters) - Swiss biotech company Molecular Partners said on Tuesday it planned to list its shares on Switzerland's SIX exchange in the fourth quarter, the latest Swiss firm to try to tap into returning investor appetite for stock market offerings.

The Zurich-based firm, which focuses on developing protein therapies to treat diseases, said it expected proceeds of about 125 million Swiss francs ($134 million) from the flotation, before an overallotment option.

The money will be used in part to fund development of its protein therapies, investments in R&D activities and acquisitions of complementary businesses and technology, the firm said.

Since its establishment 10 years ago, the firm said it had attracted around 56 million Swiss francs of venture capital and 161 million francs of non-equity funding from its blue-chip partners.

J.P. Morgan is acting as the sole global coordinator and joint bookrunner and UBS Investment Bank is acting as joint bookrunner. Cowen and Company and Bank am Bellevue are acting as co-managers in connection with the initial public offering, the biotech firm said.

Molecular Partners' flotation follows listings earlier this year by Swiss online travel company Bravofly Rumbo Group and lender Thurgauer Kantonalbank, raising 105 million francs and 160 million francs respectively.

(1 US dollar = 0.9392 Swiss franc) (Reporting by Alice Baghdjian; Editing by Stephen Coates)

 
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