Sophiris Bio, Immune, and GC-Rise all look to initial public offerings to secure financing.
Norwood, MA (PRWEB) January 24, 2013
Expected to file within the next three to six months, Toronto-based Sophiris Bio is planning to raise USD 60m through a listing on a US exchange in the next year. GC-Rise Pharmaceuticals, a Beijing-based imported drug distributor, and Immune Pharmaceuticals, an Israel-based antibody therapeutics company, will most likely follow suit, as they look to fuel growth in 2013.
Texas-based ZZ Biotech is seeking financial advisors for the first time to assist in raising capital to fund its Phase II trial investigating its ischemic stroke candidate, 3K3A-APC. The amount to be raised will be dependent on the design of the study. Meanwhile Michigan-based Aastrom Biosciences needs approximately USD 7m-8m per quarter to fund its Phase IIb and Phase III clinical trials. In Europe, Pulmonx is considering another round of financing to push its pulmonary technology into the US. Although the company is cash-flow positive, the additional USD 5m-10m would accelerate the time frame for US approval and commercialization.
Looking to add to the USD 35m that they have raised since their inception in 2004, Pennsylvania-based InstaMed Communications is considering an additional capital raise in 2013. VENITI, a US based medical device company, is looking to develop relationships with investors for its second round of funding, set to begin in six to twelve months.
Additional companies considering a capital increase in 2013 include the Spanish family-owned pharmaceutical group, Suanfarm, who is meeting this month to discuss raising between EUR 10m-15m and Benitec, an Australian gene therapy biotech company, who is looking for institutional investors with expertise in the biotech space to take substantial holdings of at least 5%.
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