BioCentury
ARTICLE | Financial News

Ultragenyx, Cara file for IPO

November 9, 2013 1:54 AM UTC

Orphan drug company Ultragenyx Pharmaceutical Inc. (Novato, Calif.) and pain company Cara Therapeutics Inc. (Shelton, Conn.) filed IPOs on Friday. Ultragenyx filed to raise up to $86.3 million in an IPO underwritten by JPMorgan; Morgan Stanley; Cowen; and Canaccord. Ultragenyx's pipeline includes in-licensed products in development for five rare diseases, including UX001, an extended-release formulation of sialic acid that is in Phase II testing for hereditary inclusion body myopathy (hIBM). In September, Kyowa Hakko Kirin Co. Ltd. (Tokyo:4151) partnered with Ultragenyx to co-develop and co-commercialize KRN23, a human mAb against fibroblast growth factor 23 (FGF23) that is in Phase I/II testing in the U.S. and Canada in adults to treat X-linked hypophosphatemia (XLH) (see BioCentury Extra, Sept. 4). ...