Morphic began trading on the Nasdaq Global Market yesterday after issuing 6 million shares priced at $15 each, providing exits to AbbVie, GSK, Novo, Pfizer, Schrödinger and ShangPharma.

Morphic Therapeutic, a US-based biotechnology developer backed by corporates AbbVie, GlaxoSmithKline, Novo, Pfizer, Schrödinger and ShangPharma, raised $90m in its initial public offering yesterday. The company issued 6 million shares on the Nasdaq Global Market priced at $15 each, in the middle of the IPO’s range, valuing it at approximately $444m. The offering is expected…

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