Sirtris Pharma raises $60M in IPO
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.
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About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.