Shionogi-Backed Biotech Apnimed Raises $192 Million in US IPO

Apnimed Inc., a biotech company developing treatments for sleep apnea, raised 192 million dollars in a US initial public offering priced at the top of its marketed range. The company is backed by Shionogi, a Japanese pharmaceutical firm. Apnimed was in late-stage development of its drug candidates at the time of the offering.

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