BioCentury
ARTICLE | Financial News

Innocoll, Bio Blast set IPO ranges

July 16, 2014 12:46 AM UTC

Innocoll GmbH (Athlone, Ireland) and Bio Blast Pharma Ltd. (Tel Aviv, Israel) both set ranges for proposed IPOs on NASDAQ. Innocoll plans to sell 5.4 million ADSs at $13-$15. At the $14 midpoint, Innocoll would raise $74.9 million. Sofinnova Ventures said it may purchase up to $15 million worth of ADSs in the offering. Innocoll shareholders have said they may purchase up to $12 million. One ordinary share represents 13.25 ADSs. At the $14 midpoint, the company would be valued at $261.3 million. Piper Jaffray; Stifel; and JMP Securities are underwriters.

This half, Innocoll plans to start Phase III testing of XaraColl to treat post-operative pain and Cogenzia to treat diabetic foot infections. XaraColl is a biodegradable and fully bioresorbable collagen/bupivacaine matrix developed using the company's CollaRx drug delivery technology. Cogenzia is a topical bioresorbable collagen sponge with gentamicin sulfate. ...