Molecular Partners’ $63.8 Million Initial Public Offering in The US and Listing on NASDAQ Close

Homburger advised Molecular Partners AG in the transaction, while Davis Polk advised the joint book-running managers and representatives of the underwriters.

Molecular Partners AG, a clinical-stage biotech company developing a new class of custom-built protein drugs known as DARPin® therapeutics, announced its Initial Public Offering of 3,000,000 American Depositary Shares in the United States at a public offering price of USD 21.25 per ADS, for total gross proceeds of approximately USD 63.8 m.

Each ADS represents one new ordinary share issued by Molecular Partners out of its authorized share capital. Trading of the ADSs commenced on the Nasdaq Global Select Market on Wednesday, June 16, 2021 under the ticker symbol “MOLN.” Molecular Partner’s ordinary shares continue to be listed and traded on SIX Swiss Exchange making the stock dual listed.

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

The Homburger team was led by partner Dieter Gericke (Picture – Corporate / M&A, Capital Markets) and included partner Stefan Oesterhelt (Tax) as well as associates Lorenzo Togni, Karin Mattle and Francesco Bernasconi (all Corporate / M&A, Capital Markets) and junior associate Tanja Niederer (Corporate / M&A, Capital Markets).

The Davis Polk capital markets team included partners Deanna L. Kirkpatrick and Yasin Keshvargar and associates Gil Savir and Taeo I. Carse. Partner David R. Bauer and associates Jesse L. Hallock and Marisa Elena Bannon provided intellectual property advice. Partner Mario J. Verdolini provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice.

Involved fees earner: Marisa Elena Bannon – Davis Polk & Wardwell; David Bauer – Davis Polk & Wardwell; Taeo Carse – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Jesse Hallock – Davis Polk & Wardwell; Yasin Keshvargar – Davis Polk & Wardwell; Deanna Kirkpatrick – Davis Polk & Wardwell; Gil Savir – Davis Polk & Wardwell; Mario Verdolini – Davis Polk & Wardwell; Francesco Bernasconi – Homburger; Dieter Gericke – Homburger; Karin Mattle – Homburger; Tanja Niederer – Homburger; Stefan Oesterhelt – Homburger; Lorenzo Togni – Homburger;

Law Firms: Davis Polk & Wardwell; Homburger;

Clients: Cowen Inc.; J.P. Morgan Securities LLC; Kempen & Co; Molecular Partners; RBC Capital Markets; SVB Leerink LLC;

Author: Federica Tiefenthaler