Cancer IPO Filing: Clovis Oncology (CLVS, CELG, PFE)

June 24, 2011 · Filed Under Cancer, IPO · Comment 

Clovis Oncology, Inc. has filed for an initial public offering.  The company plans to list on the NASDAQ Global Market under the stock symbol “CLVS.”  Financial terms were not disclosed, but Clovis listed that the proposed maximum to be sold in shares is up to $149,500,000.00.

Book-runners are listed as J.P. Morgan and Credit Suisse; and the co-manager is Leerink Swann.

Clovis is a biopharmaceutical outfit focused on acquiring, developing and commercializing innovative anti-cancer agents in the United States, Europe and additional international markets.  The target arena are development programs in subsets of cancer populations.

The company currently is developing three product candidates where it holds global marketing rights:

  • CO-101, a lipid-conjugated form of the anti-cancer drug gemcitabine, which is in a pivotal study in a specific patient population for the treatment of metastatic pancreatic cancer;
  • CO-1686, an orally available, small molecule epidermal growth factor receptor, or EGFR, covalent inhibitor that is currently in preclinical development for the treatment of non-small cell lung cancer, or NSCLC, in patients with activating EGFR mutations, including the initial activating mutations, as well as the primary resistance mutation, T790M;
  • and CO-338, an orally available, small molecule poly (ADP-ribose) polymerase, or PARP, inhibitor being developed for various solid tumors that is currently in a Phase I clinical trial.

The company was founded in April 2009 by former executives of Pharmion Corporation, which developed and commercialized oncology products and which was ultimately acquired by Celgene Corporation (NASDAQ: CELG) in 2008.

Pfizer, Inc. (NYSE: PFE) was listed as a beneficial owner by name, but no actual shares were mentioned.

The company’s full IPO prospectus filing is available here.

JON C. OGG

    Subscribe to BioHealth Investor BioHealth Investor RSS Feed