Venture capital-backed Versartis soars after IPO

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graph_positive_170sqVenture capital-backed biopharmaceutical company Versartis has raised nearly $126m via an IPO, which was priced at $21 per share.

Shares in Versatilis soared nearly 50 per cent on the Nasdaq exchange on Friday to close at $31.37.

The company sold 6m shares and granted the underwriters a 30-day option to buy up to 900,000 shares at the IPO price.

Versatilis is backed by include Sofinnova Ventures, Aisling Capital, New Leaf Venture Partners and Advent Life Sciences.

Last October Sofinnova led a $20m Series D round for Versartis to help the company prepare for an international Phase 3 pediatric trial of VRS-317, a treatmet for patients with growth hormone deficiency.

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