Ex-Pfizer CEO's pain biotech Centrexion Therapeutics sets terms for $75 million IPO

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Centrexion Therapeutics, which is developing non-opioid therapies for chronic pain, announced terms for its IPO on Monday.

The Boston, MA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. Insiders intend to purchase up to $30 million of the IPO (40% of the deal). At the midpoint of the proposed range, Centrexion Therapeutics would command a fully diluted market value of $354 million.

Centrexion Therapeutics was founded in 2013 and plans to list on the Nasdaq under the symbol CNTX. BofA Merrill Lynch, Leerink Partners and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of November 12, 2018.

The article Ex-Pfizer CEO's pain biotech Centrexion Therapeutics sets terms for $75 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

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

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