Obesity drug developer BioAge Labs targets up to $640 million valuation in upsized US IPO

(Reuters) – BioAge Labs is eyeing a valuation of up to $639.7 million in its upsized initial public offering in the United States, the obesity drug developer said on Wednesday, in a sign of strong demand from investors.

The Richmond, California-based company is now seeking to raise as much as $199.5 million by offering 10.5 million shares at $17 to $19 each.

The company had earlier planned on offering 7.5 million shares at the same price range.

BioAge Labs will list on the Nasdaq Global Market under the symbol “BIOA”.

Goldman Sachs, Morgan Stanley, Jefferies and Citigroup are the underwriters for the offering.