Caries treatment provider vVardis (VVVV.US) files for U.S. IPO, expecting to raise $200 million.

vVardis Holding (VVVV.US) filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) last Friday. The company focuses on self-developed non-invasive restorative therapies for the treatment of early-stage caries, and this IPO is expected to raise $200 million. It is understood that the company develops and sells Curodont, a peptide-based treatment for early-stage caries that can be completed in a dental clinic in five minutes or less, without drilling or injections. Its U.S. product, Curodont Repair Fluoride Plus, is sold as an over-the-counter drug under an FDA monograph and contributes the vast majority of revenue. The fluoride-free version, Curodont Repair, is sold as a medical device in the United Kingdom and parts of Europe. In the United States, the company sells only through Henry Schein, supported by its own sales team, and its products have been sold to more than 20,000 of the approximately 110,000 general dental clinics in the United States. The Zug, Switzerland-based company was founded in 2020 and generated $50 million in revenue in the 12 months ended June 30, 2026. The company plans to list on the New York Stock Exchange under the ticker symbol VVVV. vVardis Holding confidentially filed on July 2, 2026. Goldman Sachs Group, Inc., JPMorgan Chase, William Blair, UBS Group AG Investment Bank, Deutsche Bank Aktiengesellschaft, and Apollo Global Securities are serving as joint book-running managers for the transaction. Terms related to the offering price have not yet been disclosed.