Xenon files for IPO
Xenon Pharmaceuticals Inc. (Burnaby, B.C.) filed to raise up to $51.8 million in an IPO on NASDAQ underwritten by Jefferies and Wells Fargo Securities. Xenon uses its Extreme Genetics platform to discover and develop compounds by examining single-gene defects. It has two partnered clinical programs, as well as a pipeline of preclinical programs for Orphan disease that it plans to develop on its own.
Lead program TV-45070, a topical formulation of sodium channel subtype Nav1.7 blocker licensed to Teva Pharmaceutical Industries Ltd. (NYSE:TEVA), is in Phase IIb testing to treat osteoarthritis, with data expected in 3Q15. A Phase IIb study in postherpetic neuralgia (PHN) is slated to begin 1H15. Xenon has an option for co-commercialization rights in the U.S. ...