Johannes Gutenberg University of Mainz's cancer therapy developer raised $150m despite reducing the number of shares in the IPO and floating beneath its range.

Biontech, a Germany-based immuno-oncology therapy spinout of Johannes Gutenberg University of Mainz, will go public on the Nasdaq Global Select Market today in a $150m initial public offering. The company priced 10 million American Depositary Shares, each equating to one normal share, at $15 this morning, giving it a fully diluted valuation of $3.9bn. It…

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