By Randall Osborne

West Coast Editor

Allos Therapeutics Inc. and IntraBiotics Pharmaceuticals Inc. each priced its initial public offering, raising $90 million and $112.5 million, respectively.

Denver-based Allos went public with 5 million shares at $18 each. IntraBiotics, of Mountain View, Calif., priced 7.5 million shares at $15 each.

The companies registered in late January, when Allos' proposed maximum aggregate price was $69 million, and IntraBiotics' was $90 million. Allos has 22.8 million shares outstanding after the offering, and IntraBiotics has 28.5 million shares.

Allos said it would start this year a Phase III trial of RSR13, a synthetic small molecule that increases the release of oxygen from hemoglobin, aiming to market the product to radiation therapists.

The molecule - for which Allos retains worldwide commercialization rights - can improve cancer treatments, Allos said, and may be used against other conditions caused by or aggravated by oxygen deprivation in the body. Phase II trials showed it significantly improved the efficacy of radiation therapy for treating brain metastases and glioblastoma multiforme.

Partners will be sought for developing the drug for hypoxic effects of acute blood loss and decreased blood flow encountered in surgical procedures, Allos said, and for improving the effectiveness of treatments for cardiovascular disease and stroke.

IntraBiotics is advancing two lead product candidates in Phase III trials: ramoplanin oral and Protegrin IB-367 rinse. Phase II trials showed each was well tolerated, and may be useful in fighting multidrug-resistant bacteria that cannot be killed with antibiotics currently available.

SG Cowen Securities Corp., of Boston, acted as lead manager of the Allos offering, with co-managers Prudential Vector Healthcare Group, of New York, and U.S. Bancorp Piper Jaffray Inc., of Minneapolis.

The IntraBiotics offering was managed by Deutsche Banc Alex. Brown, of New York; Warburg Dillon Read LLC, of New York; SG Cowen, of Boston; and Adams, Harkness & Hill Inc., of Boston.

Allos' stock (NASDAQ:ALTH) closed Tuesday at $13, down $5. IntraBiotics' shares (NASDAQ:IBPI) ended the day at $15.75, up 75 cents.

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