Lexicon, Tanox price IPOs
Lexicon Genetics (LEXG), which is developing knockout mice for target validation and drug discovery, on Thursday raised $220 million in its IPO of 10 million shares at $22.00 per share. The deal, which was underwritten by J.P. Morgan; Credit Suisse First Boston; CIBC World Markets; and Punk, Ziegel, gives LEXG the distinction of largest biotech IPO since 1992. Microfluidic chip company Aclara (ACLA), which raised $217.4 million in its March IPO, holds the number two spot. Close behind is Tanox (TNOX), which also priced its IPO on Thursday, raising $213.8 million through the sale of 7.5 million shares at $28.50 per share. The deal was underwritten by CIBC World Markets; Robertson Stephens; Warburg Dillon Read; Adams, Harkness & Hill; and KBC. TNOX's E25 monoclonal antibody, which is being developed with Genentech (DNA) and Novartis, has completed Phase III testing with a BLA filing expected mid-year to treat allergic asthma and allergic rhinitis. ...