Eliem Therapeutics raises $80M in IPO, prices 6.4M shares at $12.50 and lists on Nasdaq as ELYM

Eliem Therapeutics priced 6.4 million shares at $12.50 in an IPO that raised $80 million and will trade on Nasdaq as ELYM, with shares closing at $15.90 (up 27%). The Redmond biotech, founded ~3 years ago and led by Bob Azelby, is early-stage with no product revenue, a $46.7M deficit, 25 employees, and is developing CNS-focused therapies for pain, psychiatry and epilepsy.