Human Metabolome jumps in Japanese IPO

Human Metabolome Technologies Inc. (Tokyo:6090) jumped Y1,442 (103%) to Y2,842 in its first day of trading on Tuesday on the Tokyo Stock Exchange's Mothers. The metabolomics service company sold shares at Y1,400 for a valuation of Y6.6 billion ($63.6 million). Ichiyoshi Securities was lead underwriter. Human Metabolome is developing capillary electrophoresis mass spectrometry technologies for metabolome analysis, with applications in drug discovery, diagnosis and food production. The company has partnerships with Agilent Technologies Inc. (NYSE:A) and Mitsubishi Pharma Corp., now part of Mitsubishi Tanabe Pharma Corp. (Tokyo:4508). ...