Akebia Therapeutics Inc., of Cambridge, Mass., said it intends to offer and sell $60 million of shares of its common stock in an underwritten public offering. The number of shares and share price have not yet been disclosed. As part of the offering, Akebia will grant underwriters a 30-day option to purchase up to an additional $9 million of shares to cover overallotments. UBS Investment Bank and Morgan Stanley are acting as joint book-running managers, while JMP Securities is acting as lead manager, and Needham & Co. and Brean Capital are acting as co-managers. Proceeds will be used to continue clinical development of AKB-6548 in patients with anemia secondary to chronic kidney disease, including the preparation for and initiation of phase III trials, to advance preclinical candidate AKB-6899 through phase I development in oncology and to increase working capital, as well as for other general corporate purposes. Shares of Akebia (NASDAQ:AKBA) closed Wednesday at $9.32, down 41 cents.
Biodel Inc., of Danbury, Conn., said it priced a public offering of 32.6 million shares of common stock at 92 cents per share and granted underwriters an option to purchase up to 4.9 million shares to cover overallotments. The gross proceeds are expected to be about $30 million and will be used for operating costs, capital expenditures and for general corporate purposes, including working capital. William Blair and Ladenburg Thalmann are acting as joint book-running managers, while Roth Capital Partners is acting as co-manager. Biodel is developing diabetes treatments by applying technologies to improve the therapeutic profiles of existing drugs. Shares of Biodel (NASDAQ:BIOD) closed Wednesday at $1.14, up 11 cents.
Carbylan Therapeutics Inc., of Palo Alto, Calif., said it closed its IPO of 14.95 million shares priced at $5 apiece, including the exercise in full by underwriters of their full overallotment option of 1.95 million shares. Net proceeds are estimated to be about $66.1 million. Proceeds will fund the ongoing COR1.1 and planned COR1.2 phase III trials of lead program, Hydros-TA, an injectable candidate to treat osteoarthritic knee pain. Leerink Partners LLC acted as sole book-running manager and representative of the underwriters in the offering. JMP Securities LLC and Wedbush Securities Inc. acted as co-managers.
Foamix Pharmaceuticals Ltd., of Rehovot, Israel, said it priced an upsized public offering of 6.45 million ordinary shares at $9.30 per share. The company has also granted the underwriters a 30-day option to purchase up to 967,741 additional ordinary shares. Barclays Capital Inc., Cowen and Co. LLC and Guggenheim Securities LLC are acting as book-running managers for the offering. Oppenheimer & Co. Inc. is acting as co-manager.
Omeicos Therapeutics GmbH, of Berlin, said it raised €6.2 million (US$6.6 million) in a series A round led by Vesalius Biocapital II SA SICAR, with participation from SMS Group Co., VC Fonds Technologie Berlin, Hightech Gruenderfonds II GmbH & Co. KG and KfW Group. As part of the financing round, the company has received subsidies of €550,000 via Ascenion's Spinnovator, a grant program supported by the German Ministry of Education and Research. Omeicos is developing small-molecule therapeutics for the prevention and treatment of cardiovascular diseases including atrial fibrillation. Its strategy is based on synthetic derivatives of natural metabolites of omega-3 fatty acids that have a strong antiarrhythmic effect. Following close of the financing, Christian Schneider and Gaston Matthyssens, of Vesalius, will join the firm's board, along with SMS' Peter Seiler, VC Fonds' Ute Mercker, Hightech's Martin Pfister and company co-founder Wolf-Hagen Schunck.
Prometic Life Sciences Inc., of Laval, Quebec, said it entered an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. for a bought deal involving 19.25 million common shares priced at C$2.60 (US$2.07) apiece for gross proceeds of C$50 million. Prometic also granted underwriters the option to purchase an additional 2.9 million shares to cover overallotments, which, if exercised in full, would bring the total gross proceeds to C$57.6 million. Funds will be used to advance additional clinical programs relating to orally active antifibrotic drug PBI-4050 and new plasma-derived orphan drugs; the expansion of clinical uses and proprietary positions on some plasma-derived orphan drugs; the manufacturing scale up of orphan drug candidates and of promising follow-on drug candidates to PBI-4050; and to allow the firm to increase its manufacturing capacity for plasma-derived therapeutics. Shares of Prometic (TSX:PLI) closed Wednesday at C$2.61, down C18 cents.
Sage Therapeutics Inc., said it priced an underwritten public offering of 2.29 million shares of its common stock at $52.50 per share. In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 342,857 shares of common stock on the same terms. J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Leerink Partners LLC and Cowen and Co. LLC are serving as co-managers.
Uniqure NV, of Amsterdam, the Netherlands, said it closed its follow-on public offering of 3 million ordinary shares at $29.50 per ordinary share. In addition, the company granted the underwriters a 30-day option to purchase up to an additional 450,000 ordinary shares at the offering price.