Enhanced generic drug biotech Mapi-Pharma sets terms for $40 million IPO

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Mapi-Pharma, which is developing enhanced generic versions of marketed drugs such as Teva's Copaxone, announced terms for its IPO on Thursday. The Ness Ziona, Israel-based company plans to raise $40 million by offering 2.9 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Mapi-Pharma would command a market value of $215 million. 

Mapi-Pharma, which was founded in 2008, plans to list on the NASDAQ under the symbol MAPI. Mapi-Pharma initially filed confidentially on February 3, 2014. Aegis Capital is the sole bookrunner on the deal. A pricing date has not yet been announced.



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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