FRANKFURT (Reuters) - German biotech firm Epigenomics plans an initial public offering (IPO) in the middle of July, part of a trend as a number of biotech firms consider listings, German newspapers reported on Friday.
Citing financial sources, Handelsblatt and the Financial Times Deutschland said the Berlin-based firm looked to raise between 50 million and 100 million euros ($60.7-$121.3 million).
The listing would come just a few weeks after Postbank placed shares on the market in the first big IPO in Germany in years.
Epigenomics develops methods to identify diseases such as cancer from an early stage by examining a patient’s genetic make-up using blood tests rather than tissue samples.
Morgan Stanley will underwrite the issue, together with Lehman Brothers and German cooperative bank DZ Bank, the newspapers reported.
A spokesman for Epigenomics declined to comment.
German biotech companies are expected to test the IPO waters again after the boom year in 2000 was followed by a three-year drought.
Berlin-based Jerini, Munich-based Wilex and Develogen in Goettingen are considered strong candidates for a potential listing, but the last time a German biotech went public was Co.don’s listing in February 2001, according to Handelsblatt.
While more and more biotech companies in Europe are waiting to take the IPO plunge, few have successfully listed thus far.
Most recently, French biotech firm Immuno-Designed Molecules postponed on June 16 its planned IPO, citing a weak market.
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