Metsera Inc. is seeking to raise $292 million in an initial public offering, joining a clutch of health-care firms set to make their debuts as public companies.
The New York-based firm plans to market 17.2 million shares for $15 to $17 per share, according to its filing on Monday with the US Securities and Exchange Commission.
At the top of that range, Metsera would have a market value of $1.8 billion based on the outstanding shares listed in its filing.
Metsera is a clinical-stage biotechnology company developing injectable and oral treatments for obesity and related conditions, the filing shows.
The company’s investors include affiliates of Arch Venture Partners, who have a 28.1% stake in the company prior to the offering, the filing shows. Their stake is expected to fall to 23.5% after the IPO. Other backers include Population Health Partners, Fidelity Investments, Mubadala Capital and Google Ventures.
The biotech firm joins a group of health care companies advancing their IPO plans. Maze Theraupeutics Inc., which develops precision treatments for kidney, heart and metabolic diseases, is seeking to raise $133 million in a listing, according to a filing on Monday. Medical device company Beta Bionics Inc. is set to price its offering of as much as $120 million this week.
Metsera has $187.6 million of cash and cash equivalents, according to the filing.
The offering is being led by Bank of America Corp., Goldman Sachs Group Inc., Evercore Inc., Guggenheim Securities, and Cantor Fitzgerald. The company plans for its shares to trade on the Nasdaq Global Select Market under the symbol MTSR.
