ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
SoftBank

Biotech IPO raises hopes for SoftBank Vision Fund rebound

Relay Therapeutics jumps 75% in Nasdaq debut

SoftBank Group CEO Masayoshi Son, pictured last year, with the Relay Therapeutics logo. The Softbank-backed biotech startup has gone public on Nasdaq. (Source photos by Ken Kobayashi)

TOKYO -- SoftBank Group-backed U.S. biotech startup Relay Therapeutics gained 75% on its trading debut on Nasdaq, raising hopes for a recovery in the performance of Softbank's $100 billion Vision Fund.

Shares in Relay, which is developing drugs for cancer treatment, closed at $35.05 on Thursday compared to its offering price of $20, giving the company a market capitalization of about $3 billion. It raised $400 million from an initial public offering.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more