Auris Medical plans to go public

The biotech start-up with offices in Basel and Zug commenced the underwritten initial public offering of 6,9 million of its common shares with the option to purchase an additional 1.04 million shares. The estimated price range is $10-12 per share, resulting in a $69-82m flotation. At the midpoint of the proposed range, Auris Medical would command a fully diluted market value of $285 million. The planned IPO is the first of a Swiss biotech company since 2009. Auris Medical is a Swiss biopharmaceutical that develops therapeutics for unmet medical needs in otolaryngology. The Company is currently focusing on the development of treatments for acute inner ear tinnitus and for acute inner ear hearing loss. The lead drug is AM-101, a Phase III level drug for acute tinnitus.