Cambridge, Mass., based Sirtris Pharmaceuticals raised at least $60 million in an initial offering, after pricing six million shares in the middle of its anticipated range of $9 to $11 apiece. The company is developing drugs that aim to mimic the health benefits of calorie-restricted diets, which have been shown to greatly extend life in a variety of animals. Sirtris’ drugs are designed to activate a protein called Sirt1, which some scientists believe may be responsible for the beneficial effects of caloric restriction.
The company’s initial drugs, which include a proprietary formulation of resveratrol — a substance found in red wine that seems to offset the effects of high-calorie diets in mice — are aimed at treating diseases related to aging, including type 2 diabetes.
Tags: anti-aging, biotechnology, co:Sirtris-Pharmaceuticals, diabetes, IPO
6:34 pm
VentureBeat » Life sciences briefing: Friday, Jan. 18, 2007 said:
[...] would follow in the footsteps of Sirtris Pharmaceuticals‘ successful IPO (our coverage here), chose to delay the offering — which is almost always code for pulling it entirely. One [...]