04:27 PM EDT, 06/25/2024 (MT Newswires) -- Biotechnology firm Clario confidentially filed for an initial public offering, seeking valuation at more than $10 billion, Bloomberg reported Tuesday, citing people familiar with the matter.

The company has lined up several underwriters for the deal, including JPMorgan Chase ( JPM ) , Morgan Stanley ( MS ) , Jefferies Financial ( JEF ) and UBS Group ( UBS ) , the sources said.

Clario, which is said to be targeting a possible IPO sometime in 2025, filed a confidential preliminary prospectus with the US Securities and Exchange Commission, but will have to file a public version if it continues with the plan.

Clario did not immediately respond to a request for comments by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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