vVardis Holding, which sells proprietary non-invasive restorative treatments for early-stage cavities, filed on Friday with the SEC for an initial public offering that we estimate could raise $200 million.
Based in Switzerland, vVardis develops and sells Curodont, a peptide-based treatment for early-stage cavities that is applied in a dental office in five minutes or less, with no drilling or needles. Its US product, Curodont Repair Fluoride Plus, is marketed as an over-the-counter drug under an FDA monograph and generates the vast majority of revenue. A fluoride-free version, Curodont Repair, is sold as a medical device in the UK and parts of Europe. The company sells in the US exclusively through Henry Schein, supported by its own sales force, and its products have been sold to over 20,000 of the approximately 110,000 general dental practices in the US.
The Zug, Switzerland-based company was founded in 2020 and booked $50 million in revenue for the 12 months ended June 30, 2026. It plans to list on the NYSE under the symbol VVVV. vVardis Holding filed confidentially on July 2, 2026. Goldman Sachs, J.P. Morgan, William Blair, UBS Investment Bank, Deutsche Bank, and Apollo Global Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
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