GenPharm International Inc. has filed for an initial public offering of2.5 million shares of common stock with a proposed price of $10 to$12 per share.
The Mountain View, Calif, company is focused on the development oftransgenic dairy cattle capable of producing human milk proteins foruse in nutritional and therapeutic products; on transgenic micecapable of generating human monoclonal antibodies for therapeuticpurposes; and on transgenic mice and rats for use as researchmodels in drug discovery.
GenPharm is working with Bristol-Myers Squibb on an unspecifiedhuman milk protein for a nutritional application. The company alsohas a second undisclosed corporate partner.
The company has no products in the clinic and doesn't plan to beginany trials in 1992.
In January, GenPharm raised $12 million in mezzanine financing. Thecompany had raised $10.7 million in previous rounds since 1988.
If the offering is completed, GenPharm will have 9.2 million sharesoutstanding. Underwriters Kidder, Peabody & Co. and Cowen & Co.have a 375,000-share overallotment option. -- KB
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