Biotech IPO Filing From Anthera
Anthera Pharmaceuticals Inc. is the latest of the biotechs that has filed to come public in an initial public offering. The company has applied to take the ticker “ANTH” on NASDAQ.” No financial terms were set, but for filing purposes it did note a figure of up to $70 million in common stock.
Anthera is a San Mateo-based developer of anti-inflammatory drugs, including cardiovascular and autoimmune diseases. The company currently has one “Phase II-ready” clinical program, A-002, and two Phase II clinical programs, A-001 and A-623. A-002 and A-001 inhibit a novel enzyme target known as secretory phospholipase A2, or sPLA2. Elevated levels of sPLA2 have been implicated in a variety of acute inflammatory conditions, including acute coronary syndrome and acute chest syndrome, as well as chronic diseases such as stable coronary artery disease.
Deutsche Bank Securities serving as lead underwriter, and additional syndicate members are Piper Jaffray, Wedbush PacGrow Life Sciences, and Merriman Curhan Ford.
The company has raised around $75 million in venture capital funding from Mitsubishi International Corp., VantagePoint, Sofinnova, Caxton Advantage Life Sciences Fund, HBM BioCapital, and Pappas Ventures. It recently raised $10 million more in financing but for all practical purposes is in the pre-revenue stage as it is a clinical-stage company at this time.
Jon C. Ogg
September 16, 2009
