BioCentury
ARTICLE | Financial News

Concert, Microlin Bio file for IPOs

January 14, 2014 2:02 AM UTC

Concert Pharmaceuticals Inc. (Lexington, Mass.) and Microlin Bio Inc. (New York City, N.Y.) both filed for IPOs on NASDAQ. Concert filed to raise up to $74.8 million in an IPO underwritten by UBS; Wells Fargo; JMP Securities; and Roth Capital Markets. Concert is developing deuterium-modified compounds. The company's CTP-499, a deuterated analog of an active metabolite of pentoxifylline, a phosphodiesterase-4 (PDE-4) inhibitor, is in Phase II testing to treat diabetic kidney disease, with data expected this half. Concert's AVP-786, a deuterium-containing analog of dextromethorphan, is partnered with Avanir Pharmaceuticals Inc. (NASDAQ:AVNR). Avanir plans to start a Phase II trial for treatment-resistant major depressive disorder (MDD) next half. ...