Molecular Partners AG (MOLN) IPO Opens Modestly Lower

Today's IPO for Molecular Partners AG (NASDAQ: MOLN) opened for trading at $20 after pricing 3,000,000 American Depositary Shares ('ADSs') at a public offering price of $21.25 per ADS.

J.P. Morgan, SVB Leerink and Cowen are acting as joint book-running managers for the proposed offering. RBC Capital Markets is acting as the bookrunner for the proposed offering. Kempen & Co is acting as the lead manager for the proposed offering.

Molecular Partners AG is a clinical-stage biotech company developing DARPin® therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin® therapeutics in the areas of ophthalmology, oncology and infectious disease, and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas.

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