With help from Swedish bank SEB and law firm Plesner, biotech company and contract research organization Gubra is now so far with preparations that an initial public offering could come as soon as spring this year, media Inside Business has learned.

According to the media, the company can target a market value of DKK 1–1.5bn (USD 145.7–218.5m) when going public on the Copenhagen stock exchange. Founders Niels Vrang and Jacob Jelsing will attempt to raise funds to secure the future growth of the company, which has partnerships with Boehringer Ingelheim, Ferring, and Bayer, among others.

An unnamed, potential investor tells Inside Business that the partner duo will retain a large ownership share after the IPO to ”thus signal to the market that this is a maneuver to secure funds for growth and not personal profit.”

Gubra has previously confirmed that it was looking into a possible IPO.