In the second quarter of this year, PolyPeptide is planning to launch an IPO on the SIX Swiss Exchange. The Swedish firm intends to place 40 percent of its share capital on the Zurich-based stocked exchange, further details of which can be found in a press release.
PolyPeptide develops and produces peptides primarily for use in the pharmaceutical and biotechnology industries. For example, these peptides help in the creation of drugs to treat cancers and diabetes. However, the company is also collaborating with the US pharma group Novavax on the development of its Covid-19 vaccine. In addition, PolyPeptide supplies cosmetics firms.
Over the past 25 years, PolyPeptide has developed from a small company with 80 employees to a global enterprise employing more than 900 members of staff. According to information from the company itself, it manufactures around a quarter of all the peptide active ingredients produced as a result of outsourced production processes around the world. Last year, PolyPeptide generated sales of 223 million euros.
“In view of our growth history, the planned IPO represents the natural next step. And we are delighted to now be putting plans into place to take this step in Switzerland, one of the world’s most attractive life sciences locations”, explains Jane Salik, CEO of PolyPeptide, in the press release.
The company is entered into the Swiss commercial register as PolyPeptide Group AG, with the Swiss headquarters denoted as being located in Zug.