vVardis Holding AG (VVVV Proposed), a dental products start-up backed by Apollo, launched its $214.3 million IPO on Friday afternoon – Nov. 6, 2026. The deal is set to price next week. vVardis, based in Zug, Switzerland, is offering 9.52 million shares at a price range of $21.00 to $24.00 to raise $214.29 million, if priced at the $22.50 mid-point of its range. At pricing, vVardis would have a market cap of $4.1 billion.
Goldman Sachs and J.P. Morgan are the joint book-running managers. William Blair, UBS Investment Bank and Deutsche Bank Securities are book-runners.
Apollo, a prominent private equity company, became a minority investor in vVardis in late April 2026.
vVardis Holding AG was founded in 2020 in Switzerland by Dr. Haley Abivardi and Dr. Goly Abivardi, two internationally renowned dentists and serial entrepreneurs who are also sisters.
Treating Cavities Without Drilling
vVardis pioneered the Curodont peptide platform that treats early-stage cavities without drilling, according to the prospectus. The treatment is applied to a patient’s teeth in five minutes or less during a visit to the dental office.
Curodont Repair Fluoride Plus is sold as an OTC drug only through Henry Schein in the United States – and it generates most of the company’s revenue, the prospectus said. Curodont Repair, a fluoride-free version, is sold as a medical device in the UK and some countries in Europe.
vVardis is not profitable: Net loss of $52.2 million on revenue of $49.68 million for the 12 months that ended on June 30, 2026.
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