Audeo sets IPO range

Audeo Oncology Inc. (San Francisco, Calif.) amended its IPO and now plans to sell 3.3 million shares at $14-$16 per share. At the mid-point of $15, Audeo would raise $48.8 million be valued at $162.6 million. Audeo, the newly formed U.S. subsidiary of Australian biotech Alchemia Ltd. (ASX:ACL), is developing Alchemia's Hyaluronic Acid Chemotransport Technology ( HyACT) oncology programs, including HA-Irinotecan. The IV formulation of irinotecan and hyaluronic acid is in Phase III testing to treat metastatic colorectal cancer. ...