Protein therapeutics biotech Ambrx files for a $86 million IPO

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Ambrx, a biotech developing protein therapeutics for cancers and growth hormone deficiency, filed on Friday with the SEC to raise up to $86 million in an initial public offering. In addition to its wholly owned products, Ambrx has partnered with Bristol-Myers Squibb to develop a diabetes candidate (in Phase 2 trials) and Eli Lilly for its animal health drug (expected to reach the US market by 2015).

The La Jolla, CA-based company, which was founded in 2003 and booked $20 million in collaboration revenue for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol AMBX. It initially filed confidentially on March 28, 2014. Stifel and Wells Fargo Securities are the joint bookrunners on the deal. No pricing terms were disclosed.




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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