Diabetes/Alzheimer's Biotech Vitae Pharmaceuticals, Inc. Sets Terms For $60 Million IPO
Published: Sep 09, 2014
Vitae Pharmaceuticals, which uses software to develop small molecule drugs for type 2 diabetes and Alzheimer's, announced terms for its IPO on Monday. The Fort Washington, PA-based company plans to raise $60 million by offering 5.0 million shares at a price range of $11 to $13. Insiders intend to purchase $11 million worth of shares on the offering (18% of the deal). At the midpoint of the proposed range, Vitae Pharmaceuticals would command a fully diluted market value of $198 million.
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