Prosensa raises $78 million in IPO

Prosensa B.V. (NASDAQ:RNA) raised $78 million through the sale of 6 million shares at $13 in an IPO. The price, at the high end of Prosensa's proposed $11-$13 range, values the company at $455 million. Earlier this month, Prosensa said it planned to sell 5 million shares in the offering, which it first proposed in May. JPMorgan; Citigroup; Leerink; Wedbush; KBC Securities; and Trout Capital are underwriters. Prosensa shares are slated to start trading on Friday.

Separately, partner GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) said FDA granted breakthrough therapy designation to drisapersen ( PRO051) to treat Duchenne muscular dystrophy. The antisense oligoribonucleotide that induces exon 51 skipping on the dystrophin gene is in Phase III testing, with data expected in 4Q13. GSK has exclusive, worldwide rights to develop and commercialize drisapersen from Prosensa under a 2009 deal. ...