IPO Roundup: Post's protein spinoff targets $525M IPO this week

Also listing this week is a French biotech focused on developing antibody treatments for cancer

Boxes of Honey Bunches of Oats cereal
The company behind Honey Bunches of Oats, Fruity Pebbles and more, is spinning off its protein nutrition division

Two companies are set to make their public debut this week: One sells protein in the form of powder, shakes and bars — the other has an FDA-approved leukemia drug that inhibits protein synthesis.

Pricing Wednesday

BellRing Brands Inc (NYSE:BRBR), the protein-focused spinoff of Post Holdings Inc (NYSE:POST), plans to raise $525 million to go public on its own right. 

The St. Louis-based company expects to offer 30 million shares at between $16 and $19 per share. 

BellRing’s brands include Premier Protein, Dymatize and PowerBar — a variety of protein shakes, powders and bars. The Premier Protein brand holds the top spot in terms of market share in the convenient nutrition category based on Nielson data, the company said.

Innate Pharma SA (NASDAQ:IPHA), a French biotechnology company developing antibody therapies for cancer, is hoping for an $80 million IPO. 

The Marseille firm plans to go public with 10.7 million shares at a price of $7.50 each. 

Innate has collaborated with industry leaders such as AstraZeneca PLC (NYSE:AZN) and Sanofi SA (NASDAQ:SNY) to leverage their development capabilities, and as a result has received $550 million in upfront and milestone payments and equity investments over the past decade. 

The company’s pipeline includes Lumoxiti, a tumor antigen-targeting drug approved by the FDA in hairy cell leukemia, as well as three additional clinical product candidates.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

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