Cancer biotech Cerulean Pharma sets terms for $60 million IPO
Cerulean Pharma, a clinical-stage biotech developing targeted
cancer therapies for liver and ovarian cancer, announced terms
for its IPO on Monday. The Cambridge, MA-based company plans to
raise $60 million by offering 5.0 million shares at a price range
of $11 to $13. At the midpoint of the proposed range, Cerulean
would command a fully diluted market value of $180 million.
Cerulean Pharma, which was founded in 2005, plans to list on the NASDAQ under the symbol CERU. It initially filed confidentially on January 30, 2014. Leerink Partners is the sole bookrunner on the deal.