Going public comes back to life sciences: no life-science company in the Triangle completed an initial public offering last year, illustrating the industry's struggles since the recession. But three already have gone or filed to go public in 2013.
Position | Triangle - Company overview |
Chimerix Inc.
Its public offering April 11 followed a licensing deal with Whitehouse Station, N.J.-based Merck & Co. worth up to $151 million for rights to its drug that treats HIV-related infections. Also, the U.S. Food and Drug Administration has fast-tracked Chimerix's CMX001, proven in two clinical trials to reduce the likelihood of fatal infections in immune systems affected by cancer, drug use and other ailments.
Headquarters Durham
aised $102 million
Revenue N/A
History Founded in 2002, chairman George Painter ran it until 2010, when Ken Moch, who joined the company a year earlier, became CEO and president.
Employees 46
IPO proceeds will pay for sales and marketing and CMX001's third clinical trial.
LipoScience Inc.
Its share price had risen 10% by late March since an underwhelming IPO Jan. 30 of 5 million shares at $9 per share. It had hoped to fetch $13 to $15 per share. LipoScience has sold more than 9 million diagnostic cholesterol tests that provide doctors and patients information to manage the risk of heart disease.
Headquarters Raleigh
Raised $45 million
Revenue $54 million in year ended September 2012
History Founded in 1997 by N.C. State University professor James Otvos, it planned to go public in 2002 but didn't because of poor market conditions.
Employees 200
IP0 proceeds will pay for research and development, additional sales and marketing staff and dividends to shareholders.
Quintiles Transnational Holdings Inc.
The largest biopharmaceutical contract-research organization in the world, it filed an IPO proposal Feb. 15. Having doubled sales since 2003, Quintiles expects business to grow as R&D spending on health care increases and the market for clinical-trial outsourcing expands.
Headquarters Durham
Anticipates raising $600 million
Revenue $3.7 billion in 2012
History Founded in 1982 by Dennis Gillings, then a biostatistics professor at UNC Chapel Hill, the company went public in...
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