September 14, 2015
By
Mark Terry
, BioSpace.com Breaking News Staff
Two biotech companies and a medical device company all have
initial public offerings
(IPO) going live this week. They are
Nabriva Therapeutics
,
REGENXBIO
and
Penumbra
.
Nabriva Therapeutics
Nabriva Therapeutics
, is headquartered in Vienna, Austria with U.S. offices in King of Prussia, Penn.
Nabriva
is a clinical-stage biopharmaceutical companies working to develop new antibiotics, with a focus on the pleuromutilin class of antibiotics. Its lead product, lefamulin, will soon enter international Phase III clinical trials for the treatment of community-acquired bacterial pneumonia (CABP).
The company also has BC-7013, a topical pleuromutilin candidate, which recently completed a Phase I trial. It is believed to be suitable for the treatment of topical infections, such as Gram-positive infections, and uncomplicated skin and skin structure infections (uSSSIs).
Nabriva
plans to raise $96 million through its IPO. The company raised $50 in April from investors
Vivo Capital
,
OrbiMed
,
Novartis
and others. Renaissance Capital IPO Center says that “insiders plan to purchase an additional $50 million worth of shares on the offering, or 52 percent of the proposed deal size.”
REGENXBIO Inc.
Rockville, Md.-based
REGENXBIO Inc.
focuses on gene therapy using AAV vectors. The company was founded in 2009 based on a collaboration between
FoxKiser LLP
, the
University of Pennsylvania
and
James Wilson
, a pioneering researcher in gene therapy. The company has a proprietary NAV Technology Program, made up of exclusive rights to more than 100 novel AAV serotypes.
The company has licensing deals for its technology with numerous companies, including
AAVLife
,
Audentes
,
AveXis
,
Baxalta
,
Dimension Therapeutics
,
Esteve
,
Lysogene
and
Voyager Therapeutics
. The NAV Technology Platform is being used to develop 23 product candidates, including 18 partnered product candidates.
In May,
REGENXBIO
brought in $71 million from investors
Janus
,
Venrock
,
Deerfield
,
GlaxoSmithKline
,
Fidelity
and
Vivo Capital
.
REGENXBIO’s IPO
will offer 5.6 million shares with a price of $17 to $19 per share and an expected deal size of $100 million.
The RegenXBio IPO date is Thursday Sept. 17, 2015.
Penumbra, Inc.
Headquartered in Alameda, Calif.,
Penumbra
is a medical device company that currently employs 1,000 people with sales operations in North America, Europe, Australia and Asia. The company’s products are focused on neurology and peripheral vascular uses. It has several products on the market to deal with ischemic stroke, hemorrhagic strokes and various peripheral vascular disorders that can be treated through thrombectomy and embolization.
In May, the company
announced
aspiration thrombectomy system had received 510(k) marketing clearance from the
U.S. Food and Drug Administration (FDA)
for the revascularization of large vessel occlusions in patients with acute ischemic stroke.
The company has reported 41 percent growth in sales in the first half of 2015 and “near-profitability.” Its market cap is $847 million, which will make it the largest medical products company to go public this year. The
IPO
will offer 4.4 million shares with a price range of $25 to $28 for a deal of $122.4 million.
Analysts with SeekingAlpha note that, “At $28 per share, the price is a lot for an IPO, but
Penumbra
is justified in going for that much. It is a rising, profitable company in a field which has had steady growth over the past few years.”
The IPO is
expected
to trade on Friday, Sept. 18, 2015.
