Cancer biotech Acceleron Pharma sets terms for $65 million IPO
Acceleron Pharma, a clinical stage biotech developing protein
therapeutics for cancer and rare diseases, announced terms for
its IPO on Friday. The Cambridge, MA-based company plans to raise
$65 million by offering 4.7 million shares at a price range of
$13 to $15. At the midpoint of the proposed range, Acceleron
Pharma would command a market value of $370 million.
Acceleron Pharma, which was founded in 2003 and booked $49 million in collaboration and grant revenue for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol XLRN. Acceleron Pharma initially filed confidentially on July 3, 2013. Citi and Leerink Swann are the joint bookrunners on the deal.