Biotie Therapies fka BITI

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Parkinson's biotech Biotie Therapies sets terms for $50 million IPO

By Renaissance Capital, June 04, 2015, 09:19:16 AM EDT AAA
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Biotie Therapies, a Finnish biotech developing an adjunct therapy to levodopa for Parkinson's disease, announced terms for its IPO on Thursday.

The Turku, Finland-based company plans to raise $50 million by offering 3.4 million ADSs at a price of $14.82. At that price, Biotie Therapies would command a fully diluted market value of $175 million.

Biotie Therapies, which was founded in 1998 and booked $11 million in sales for the 12 months ended March 31, 2015, plans to list on the NASDAQ under the symbol BITI. Biotie Therapies initially filed confidentially on 3/17/2015. RBC Capital Markets and Stifel are the joint bookrunners on the deal. It is expected to price during the week of June 8, 2015 .
The article Parkinson's biotech Biotie Therapies sets terms for $50 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

http://www.nasdaq.com/article/parkinsons-biotech-biotie-therapies-sets-terms-for-50-million-ipo-cm483419