Innocoll, Bio Blast set IPO ranges
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. ...