Testing the IPO waters

Testing the IPO waters

MARKET HOPEFULS: Sensus Drug Development (Proposed:SDDC) is planning a 3 million share IPO at $13-$15 per share. A $14 price would value the company at $134.4 million. The underwriters - Merrill Lynch, NationsBanc Montgomery Securities and BancBoston Robertson Stephens - will offer 2.4 million shares in the U.S. and Canada, and 600,000 elsewhere. Sensus is conducting Phase III trials of Trovert, a growth hormone antagonist to treat acromegaly, a condition characterized by soft tissue swelling and abnormal growth of bone and cartilage. Sensus also is testing Trovert in a Phase II trial in diabetic retinopathy. Kenneth Dart's Ross Financial Corp. will own 24 percent of the company after the IPO, while partner Genentech (GNE) will own 5 percent . . . Bioglan Pharma announced its intention to raise £20 million (US$33.2 million) through a listing on the London Stock Exchange. The listing would value the drug delivery company at about £200 million.

British financings

Strapped

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