NEW YORK – Swedish proteomics firm Olink filed on Wednesday with the US Securities and Exchange Commission for an initial public offering of American Depositary Shares (ADS).
Following completion of the ADS offering, the company will list on the Nasdaq Global Market under the symbol OLK.
The company did not provide a price for the shares or the number of shares to be offered. It noted in the filing that following the offering, Knilo Investco, which is owned by Olink's current owner, private equity firm Summa Equity AB, will continue to be Olink's controlling shareholder.
Olink's primary technology is its proximity extension assay, which uses pairs of antibodies linked to DNA strands that, upon the antibodies binding to their target, are brought into proximity. After DNA polymerase extension, the product can be used as a surrogate marker for the target protein.
The company offers a library of assays to roughly 1,500 proteins and plans to expand that to around 3,000 proteins this year. It has also begun using next-generation sequencing for readout of results, offering an NGS-based readout version of the assay named the Explore 1536 on Illumina's NovaSeq platform.
In 2020, Olink generated revenues of $54.1 million and posted a net loss of $6.8 million, according to the SEC filing.