Virginia Tech spinout Landos Biopharma priced its shares at $16 to raise $100m and will use proceeds to advance the development of two treatments for inflammatory bowel disease.

Landos Biopharma, a US-based autoimmune disease treatments developer based on research at Virginia Tech, issued nearly 6.3 million shares priced at $16 on Wednesday to raise $100m in its initial public offering. The pricing marks the midpoint of a $15 to $17 range and gave Landos a market value of $650m. It began trading on…

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