Zynaxis Inc. said Tuesday that it has filed for an initial publicoffering of 2 million shares of common stock with a proposedprice of $7 to $8 per share.
The Malvern, Pa., company is developing cell linker moleculescalled Zyn-linkers for the delivery and retention oftherapeutics and radiopharmaceuticals at disease sites. Zyn-linkers are organic compounds with lipophilic tails that insertthemselves into the lipid portion of a cell's membrane. Thecompounds thus far have been developed in vitro and inanimal models.
The company is focused on the use of Zyn-linkers to deliveranti-proliferative drugs for the reduction of restenosisfollowing angioplasty, to alleviate pain and chronicinflammation associated with rheumatoid arthritis, and to treatovarian cancer and psoriasis.
Zynaxis currently markets fluorescent and radioactive Zyn-Linkers to the research community for use in labeling andtracking single cells in vitro and in vivo. It is also developingcellular diagnostic products using monoclonal antibodies tomeasure certain cell types, and expects to file a pre-marketsubmission with the Food and Drug Administration thissummer for its system to monitor CD4 and CD8 cell counts inHIV-infected and AIDS patients.
If the offering is completed, the company will have 4 millionshares outstanding.
Underwriters Pennsylvania Merchant Group Ltd. and Hanifen,Imhoff Inc. have a 300,000-share overallotment option. -- KB
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