SEATTLE, WASH. and CAMBRIDGE, UK, August 9, 2021 – Eliem Therapeutics, Inc., a clinical-stage biotechnology company focused on developing novel therapies for neuronal excitability disorders to address unmet needs in chronic pain, psychiatry, epilepsy and other disorders of the peripheral and central nervous systems, today announced the pricing of its initial public offering of 6,400,000 shares of common stock at a public offering price of $12.50 per share. All of the shares are being offered by Eliem. Eliem has granted the underwriters a 30-day option to purchase up to an additional 960,000 shares of common stock at the initial public offering price. The gross proceeds of the offering, before deducting underwriting discounts and commissions, and other offering expenses payable by Eliem, are expected to be $80.0 million, excluding any exercise of the underwriters’ option to purchase additional shares of common stock.
The shares are expected to begin trading on the Nasdaq Global Market on August 10, 2021 under the ticker symbol “ELYM.” The offering is expected to close on August 12, 2021, subject to the satisfaction of customary closing conditions.
SVB Leerink, Evercore ISI, Stifel, and Guggenheim Securities are acting as joint bookrunning managers for the offering.
