Employees of Certara, a biosimulation software company that went public Friday, have a reason to be as pleased as Punch. Around 900 Certara team members received stock in the IPO. “There are a lot of happy employees around the world,” Mr. Feehery told Barron’s. “People put their whole careers to getting us to this point. It’s exciting and appropriate that they get to participate in the share ownership and the IPO.”
CEO Mark Feehery made the comments after Certara’s [$CERT] shares jumped 72% to $39.50 in their first day. The stock opened at $29.90 and closed Friday at $38.08, up nearly 66%. Certara isn’t the only company that went public Friday. AbCellera Biologics [$ABCL], 4D Molecular Therapeutics [$FDMT] and Vivos Therapeutics [$VVOS] also opened for trading. Certara’s strong performance came after the company raised a healthy $668.3 million. It sold 29,055,000 shares at $23 each, up from the 24,390,000 shares at $19 to $22 Certara had planned to sell. [Peter Thiel’s New IPO & Its Not Palantir]
Certara supplies biosimulation software to make virtual trials using virtual patients to forecast how drugs will behave in different people. Its platform is used by more than 1,600 biopharmaceutical companies and academic institutions in 60 countries, including all of the top tier 35 biopharmaceutical companies.
Biosimulation software became vital once the pandy disrupted clinical trials, which often use human test subjects, across the world in 2020. For example, the virus caused Pfizer [$PFE] in March to halt patient recruitment in all global trials. Certara is backed by private-equity firms and plans to use the proceeds from the IPO to invest in biosimulation innovation, launching new products and features. [Hey Pfizer, Moderna said “Hold My Beer”]
Certara has been avaricious to say the least, buying up 12 companies in the last eight years. Nine of those deals were software acquisitions and all a massive success.