Biotech Hyperion Therapeutics sets terms for $50 million US IPO

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Hyperion Therapeutics, a biotech focused on the treatment of urea cycle disorders and hepatic encephalopathy, announced terms for its IPO on Friday. The South San Francisco, CA-based company plans to raise $50 million by offering 4.2 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Hyperion Therapeutics would command a market value of $187 million.

The company's lead candidate, Ravicti, is under FDA review and is expected to launch in the first half of 2013. Venture capital backers, which are expected to buy $22 million of the offering, include Sofinnova Venture Partners (16% post-IPO stake), New Enterprise Associates (16%), Highland Capital Partners (14%), Bay City Capital (13%) and Panorama Capital (9%). CEO Donald Santel previously founded CoTherix, which was sold to Actelion for $420 million in 2007.

Hyperion Therapeutics, which was founded in 2006, plans to list on the NASDAQ under the symbol HPTX. Leerink Swann and Cowen & Company are the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

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