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An unmet need for knees: Biotech Histogenics sets terms for $60 million IPO

Histogenics, a biotech developing a therapy for repairing knee cartilage using its tissue repair platform, announced terms for its IPO on Friday. The Waltham, MA-based company plans to raise $60 million by offering 4.3 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Histogenics would command a fully diluted market value of $158 million.

The deal is 58% covered, as insiders plan to purchase $20 million worth of shares on the offering while August 2013 biotech Intrexon ( XON ) has indicated it would invest $15 million.

Founded in 2000, Histogenics plans to list on the NASDAQ under the symbol HSGX. Cowen & Company, Needham and Canaccord Genuity are the joint bookrunners on the deal. It is expected to price during the week of December 1, 2014.

The article An unmet need for knees: Biotech Histogenics sets terms for $60 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, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , 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.


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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