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	<title>VentureBeat &#187; drug formulation</title>
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		<title>IPO roundup: MAP Pharma&#039;s mixed reception, other recent filings</title>
		<link>http://venturebeat.com/2007/10/08/ipo-roundup-map-pharmas-mixed-reception-other-recent-filings/</link>
		<comments>http://venturebeat.com/2007/10/08/ipo-roundup-map-pharmas-mixed-reception-other-recent-filings/#comments</comments>
		<pubDate>Mon, 08 Oct 2007 16:21:33 +0000</pubDate>
		<dc:creator>David P. Hamilton</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[anti inflammatory]]></category>
		<category><![CDATA[antibiotics]]></category>
		<category><![CDATA[antifungal]]></category>
		<category><![CDATA[boron chemistry]]></category>
		<category><![CDATA[bronchial valves]]></category>
		<category><![CDATA[chronic obstructive pulmonary disease]]></category>
		<category><![CDATA[drug formulation]]></category>
		<category><![CDATA[emphysema]]></category>
		<category><![CDATA[IPO]]></category>
		<category><![CDATA[lung disease]]></category>
		<category><![CDATA[medical devices]]></category>
		<category><![CDATA[specialty pharmaceuticals]]></category>

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		<description><![CDATA[<p>MAP Pharmaceuticals, the Mountain View, Calif., specialty pharma, had a mixed reception to its IPO Friday. The company priced its shares at $12, below its anticipated range of $14 to $16, raising up to $69 million &#8212; substantially less than &#8230;</p><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=venturebeat.com&amp;blog=342986&amp;post=41904&amp;subd=venturebeat&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.mappharma.com/"href='http://venturebeat.files.wordpress.com/2007/10/map-pharma-logo.jpg' title='map-pharma-logo.jpg'><img src='http://venturebeat.files.wordpress.com/2007/10/map-pharma-logo.jpg' alt='map-pharma-logo.jpg' /></a><a  target="_blank">MAP Pharmaceuticals</a>, the Mountain View, Calif., specialty pharma, had a mixed reception to its IPO Friday. The company priced its shares at $12, below its anticipated range of $14 to $16, raising up to $69 million &#8212; substantially less than the $92 million it might have pulled in. Investors, however, reacted positively and pushed up the shares 11 percent to $13.35.</p>
<p>MAP reformulates existing drugs in order to deliver them via inhalers. Its leading product is a new version of the asthma drug budesonide, which is used to treat pediatric asthma. See our previous coverage of the company <a href="http://venturebeat.com/2007/09/21/life-sciences-briefing-friday-sept-21-2007/">here</a> (second item) and <a href="http://venturebeat.com/2007/06/19/map-pharma-charts-course-for-86m-ipo/">here</a>.</p>
<p><em>Some other recent filings that slipped through the cracks:</em></p>
<p><a href="http://www.anacor.com"href='http://venturebeat.files.wordpress.com/2007/10/anacor-pharma-logo.jpg' title='anacor-pharma-logo.jpg'><img src='http://venturebeat.files.wordpress.com/2007/10/anacor-pharma-logo.jpg' alt='anacor-pharma-logo.jpg' /></a><strong>Anti-infective developer Anacor Pharma looks for $58M IPO &#8212; </strong>Palo Alto, Calif.-based <a  target="_blank">Anacor Pharmaceuticals</a>, a biotech developing new antibiotics, anti-inflammatories and antifungal drugs, <a href="http://edgar.sec.gov/Archives/edgar/data/1411158/000104746907006803/a2179512zs-1.htm" target="_blank">filed to raise up to $57.5 million</a> in an IPO on Aug. 31. The company, which develops new drugs from a process focused on the chemistry of boron, is focused first on topical medications for fungal nail infections known as onychomycosis and the autoimmune skin condition psoriasis. See our previous coverage of the company <a href="http://venturebeat.com/2007/02/05/anacor-anti-fungal-therapy-co-gets-50m-from-schering-plough/">here</a>.</p>
<p><a href="http://www.emphasysmedical.com"href='http://venturebeat.files.wordpress.com/2007/10/emphasys-medical.jpg' title='emphasys-medical.jpg'><img src='http://venturebeat.files.wordpress.com/2007/10/emphasys-medical.jpg' alt='emphasys-medical.jpg' /></a><strong>Emphasys Medical targets $86M IPO for lung devices &#8212; </strong>Redwood City, Calif.-based <a  target="_blank">Emphasys Medical</a>, a device maker focused on treatments for emphysema and similar lung diseases, filed on Sept. 21 <a href="http://edgar.sec.gov/Archives/edgar/data/1411380/000119312507205152/ds1.htm" target="_blank">to raise up to $86.3 million in an IPO</a>. The company makes insertable one-way valves for the bronchial tubes that move air in and out of the lungs; these valves can &#8220;close off&#8221; diseased and overinflated parts of the lung in order to enable the remaining healthy areas to function normally.</p>
<p>As part of its SEC filing, Emphasys also disclosed the results of a pivotal trial of its device, known as the Emphasys Bronchial Valve, or EBV. In that randomized trial of 321 patients, those who received the EBV saw exhaled air volume &#8212; a sign of lung health &#8212; 6.4 percent greater than that of untreated patients. Patients treated with the device were also able to walk 5.6 percent farther in six minutes than the control group.</p>
<p><a href="http://www.monosolrx.com"href='http://venturebeat.files.wordpress.com/2007/10/monosol-rx-logo.jpg' title='monosol-rx-logo.jpg'><img src='http://venturebeat.files.wordpress.com/2007/10/monosol-rx-logo.jpg' alt='monosol-rx-logo.jpg' /></a><strong>Drug formulator MonoSol Rx sets IPO price range, hopes for $83M &#8212; </strong><a  target="_blank">MonoSol Rx</a>, a Warren, N.J., maker of drug formulations designed to mask the taste of particular medications, says it hopes to raise up to $82.8 million in an IPO. The company plans to <a href="http://edgar.sec.gov/Archives/edgar/data/1398733/000104746907007408/a2178523zs-1a.htm" target="_blank">sell up to 4.6 million shares at a price of $16 to $18 apiece</a>, it said in a filing on Oct. 3. MonoSol Rx makes quick-dissolving &#8220;thin films&#8221; that can be used to repackage existing drugs into easy-to-swallow forms.</p>
<p><a href="http://www.merrionpharma.com/"href='http://venturebeat.files.wordpress.com/2007/10/merrion-logo.jpg' title='merrion-logo.jpg'><img src='http://venturebeat.files.wordpress.com/2007/10/merrion-logo.jpg' alt='merrion-logo.jpg' /></a><strong>Irish reformulator Merrion Pharma hopes for $55M IPO &#8212; </strong>Dublin&#8217;s <a  target="_blank">Merrion Pharmaceuticals</a>, a developer of drug formulations that improve absorption within the gastrointestinal tract, <a href="http://edgar.sec.gov/Archives/edgar/data/1394409/000119312507211398/df1a.htm" target="_blank">aims to raise up to $55.2 million in an IPO</a>. The company plans to offer four million shares as American Depositary Shares at a price of $10 to $12 apiece. Merrion&#8217;s technology is designed to reformulate drugs that can only be injected into pill or gel capsule forms.</p>
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	<enclosure url="http://venturebeat.files.wordpress.com/2007/10/merrion-logo.jpg?w=150" /><source url="http://venturebeat.com/2007/10/08/ipo-roundup-map-pharmas-mixed-reception-other-recent-filings/">IPO roundup: MAP Pharma&#039;s mixed reception, other recent filings</source>
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		<title>Life sciences briefing: Wednesday, Aug. 22, 2007</title>
		<link>http://venturebeat.com/2007/08/22/life-sciences-briefing-wednesday-aug-22-2007/</link>
		<comments>http://venturebeat.com/2007/08/22/life-sciences-briefing-wednesday-aug-22-2007/#comments</comments>
		<pubDate>Wed, 22 Aug 2007 16:57:03 +0000</pubDate>
		<dc:creator>David P. Hamilton</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[chemotherapy]]></category>
		<category><![CDATA[deal]]></category>
		<category><![CDATA[drug formulation]]></category>
		<category><![CDATA[medical devices]]></category>
		<category><![CDATA[radiation therapy]]></category>

		<guid isPermaLink="false">http://venturebeat.com/2007/08/22/life-sciences-briefing-wednesday-aug-22-2007/</guid>
		<description><![CDATA[<p><em><strong>Featured companies:</strong> Alpex Pharma, Applied Computational Technologies, Separation Design Group, ThermalTherapeutics Systems</em></p>
<p><strong>Switzerland&#8217;s Alpex Pharma raises $9M for plop, plop, fizz, fizz drugs&#8211; </strong>Alpex Pharma, a Mezzovico, Switzerland drug-formulation company, raised $9 million (CHF 10.9 million) in a second round &#8230;</p><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=venturebeat.com&amp;blog=342986&amp;post=26308&amp;subd=venturebeat&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><em><strong>Featured companies:</strong> Alpex Pharma, Applied Computational Technologies, Separation Design Group, ThermalTherapeutics Systems</em></p>
<p><a href="http://www.alpex.com/"href='http://venturebeat.files.wordpress.com/2007/08/alpex-pharma-logo.jpg' title='alpex-pharma-logo.jpg'><img src='http://venturebeat.files.wordpress.com/2007/08/alpex-pharma-logo.jpg' alt='alpex-pharma-logo.jpg' /></a><strong>Switzerland&#8217;s Alpex Pharma raises $9M for plop, plop, fizz, fizz drugs&#8211; </strong><a  target="_blank">Alpex Pharma</a>, a Mezzovico, Switzerland drug-formulation company, <a href="http://www.pharmalive.com/News/index.cfm?articleid=469278&amp;categoryid=36%2C61" target="_blank">raised $9 million (CHF 10.9 million)</a> in a second round of funding. Investors included BB Biotech Ventures and Signet Healthcare Partners.</p>
<p>The company essentially reformulates pharmaceuticals for other companies with technologies that make pills melt quickly, allowing them to be taken without water, or to &#8220;effervesce&#8221; &#8212; that is, dissolve &#8212; in liquid, much like <a href="http://www.alkaseltzer.com" target="_blank">Alka-Seltzer</a>. Founded in 1988 under the name Aesculapius Pharma, Alpex was acquired by <a href="http://www.elan.com" target="_blank">Elan Pharmaceuticals</a> in 1992. Private-equity funds controlled by Sanders Morris Harris then acquired a majority interest in 2004 and changed the company&#8217;s name to Alpex.</p>
<p><a href="http://www.pslg.com"href='http://venturebeat.files.wordpress.com/2007/08/plsg-logo.jpg' title='plsg-logo.jpg'><img src='http://venturebeat.files.wordpress.com/2007/08/plsg-logo.jpg' alt='plsg-logo.jpg' /></a><strong>Pittsburgh Life Sciences Greenhouse invests $450K in three firms &#8212; </strong>The <a  target="_blank">Pittsburgh Life Sciences Greenhouse</a>, which we last covered in the sixth item in <a href="http://venturebeat.com/2007/08/15/life-science-briefing-wednesday-aug-15-2007/">this daily briefing</a>, has struck again, funding three local companies <a href="http://www.plsg.com/index.php?option=com_content&amp;task=view&amp;id=265&amp;Itemid=193" target="_blank">to the tune of $450,000</a>. The public-private partnership invested $200,000 in ThermalTherapeutics Systems, which is working on a more efficient pump for chemotherapy drugs. <a href="http://www.appcomptech.com/" target="_blank">Applied Computational Technologies</a> received a $150,000 investment for development of a radiation-dose calculation engine. Medical-oxygen concentrator Separation Design Group received $100,000.</p>
<p><a href="http://www.splitrock.com/"href='http://venturebeat.files.wordpress.com/2007/08/splitrock-logo.jpg' title='splitrock-logo.jpg'><img src='http://venturebeat.files.wordpress.com/2007/08/splitrock-logo.jpg' alt='splitrock-logo.jpg' /></a><strong>Split Rock Partners names Jagi Gill entrepreneur-in-residence &#8212; </strong><a  target="_blank">Split Rock Partners</a>, a VC firm with offices in Minneapolis and Menlo Park, Calif., made medical-device executive Jagi Gill <a href="http://www.splitrock.com/page/SRP-Gill.jsp" target="_blank">an entrepreneur-in-residence</a>. Gill, currently chairman of <a href="http://www.physiostream.com" target="_blank">PhysioStream</a> and the former CEO of Sage Medical Technologies, will aim to seed new medical-device companies for the firm.</p>
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		<title>SurModics buys Brookwood Pharma for up to $62M</title>
		<link>http://venturebeat.com/2007/08/02/surmodics-buys-brookwood-pharma-for-up-to-62m/</link>
		<comments>http://venturebeat.com/2007/08/02/surmodics-buys-brookwood-pharma-for-up-to-62m/#comments</comments>
		<pubDate>Thu, 02 Aug 2007 19:06:08 +0000</pubDate>
		<dc:creator>David P. Hamilton</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[drug formulation]]></category>
		<category><![CDATA[medical devices]]></category>
		<category><![CDATA[Mergers and Acquisitions]]></category>

		<guid isPermaLink="false">http://venturebeat.com/2007/08/02/surmodics-buys-brookwood-pharma-for-up-to-62m/</guid>
		<description><![CDATA[<p>SurModics, a publicly traded medical-device maker, agreed to acquire Birmingham, Ala.&#8217;s Brookwood Pharmaceuticals for $40 million in cash plus milestone payments of up to $22 million. Brookwood develops polymer-based drug formulations. Bloomberg has more here.</p>
<br /><p>&#8230;</p><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=venturebeat.com&amp;blog=342986&amp;post=21876&amp;subd=venturebeat&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><span id="more-21876"></span><a href="http://www.surmodics.com" target="_blank">SurModics</a>, a publicly traded medical-device maker, agreed to acquire Birmingham, Ala.&#8217;s <a href="http://www.brookwoodpharma.com" target="_blank">Brookwood Pharmaceuticals</a> <a href="http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&amp;STORY=/www/story/08-01-2007/0004636949&amp;EDATE=" target="_blank">for $40 million in cash plus milestone payments of up to $22 million</a>. Brookwood develops polymer-based drug formulations. Bloomberg has more <a href="http://www.startribune.com/535/story/1338482.html" target="_blank">here</a>.</p>
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	<source url="http://venturebeat.com/2007/08/02/surmodics-buys-brookwood-pharma-for-up-to-62m/">SurModics buys Brookwood Pharma for up to $62M</source>
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