Aegerion Pharmaceuticals, a Bridgewater, N.J., specialty pharmaceuticals company focused on cardiovascular and metabolic diseases, said it hopes to raise up to $80.5 million in an initial offering, down slightly from its earlier plan to raise as much as $86.5 million. The company plans to offer five million shares, plus a possible overallotment of an additional 750,000 shares, at a per-share price of $12 to $14.
The company is testing inhibitors designed to limit the production of cholesterol and triglycerides in the liver and intestines, which could make them possible treatments for high cholesterol in the estimated 1.5 million Americans who cannot tolerate the popular cholesterol-lowering drugs known collectively as statins. Aegerion’s lead product candidate, AEGR-733, should enter late-stage human testing in the second half of this year.
Like other specialty pharmaceutical companies, Aegerion doesn’t discover its own drugs, and instead licenses or acquires cast-offs from other companies. Its S-1 filing with the SEC is here.
Tags: cholesterol, co:Aegerion-Pharmaceuticals, IPO, specialty-pharmaceuticals
4:44 pm
VentureBeat » Aegerion Pharma yanks $81M IPO said:
[...] Aegerion is developing drugs that lower cholesterol and trigyceride levels by limiting production of the substances in the liver. Like other specialty-pharmaceutical companies, the company doesn’t develop its own drugs, and instead acquires cast-offs from other companies. I wrote about its IPO plans here. [...]
3:13 pm
VentureBeat » IPO roundup: Broncus Tech, Aegerion Pharma rides again, and more said:
[...] previous coverage of Aegerion, which is working on drugs that lower cholesterol in a new way, is here and here. No word on why the company thinks things are looking better now — of course, it [...]