Successful IPO of HBM portfolio company Mineralys Therapeutics

Mineralys Therapeutics (Nasdaq: MLYS), a previously private company in the portfolio of HBM Healthcare Investments, successfully completed its IPO last Friday. The company placed 12 million new shares at a price of USD 16.00 per share, raising USD 192 million in new capital. On the first day of trading, the share price rose to USD 18.44 (+15.25%).

HBM Healthcare Investments has invested a total of USD 19 million in the company in two private financing rounds since February 2021. The investment was previously valued at USD 27 million. In addition, HBM Healthcare Investments also participated in the IPO. Based on Friday's closing share price, the investment is valued at USD 57 million. This results in an increase of the net asset value per HBM-share (NAV) of CHF 3.60.

Mineralys Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone. The company's lead product candidate, lorundrostat, is a orally administered, highly selective aldosterone synthase inhibitor (ASI) that is initially developed for the treatment of patients with hypertension.

Contact
For further information, please contact Erwin Troxler on +41 41 710 75 77, or at erwin.troxler@hbmhealthcare.com.