Ikaria, NuPathe File Initial Public Offerings
This article was originally published in The Pink Sheet Daily
Weak performance by a smattering of biotechs that went public in early 2010 hasn't deterred two more from being first to register this year.
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Although Ikaria focuses on a highly specialized segment of the hospital market, its integrated business model offers insights into continuum of care strategies that pharma companies are evaluating in a reimbursement-focused world. The company’s promising strategy could get a boost from key trial read-outs as soon as late 2012.
$15 million will be used to pay debt to Australian drug maker pSivida, which gave Alimera its lead compound.
Ikaria's private-equity funded acquisition of INO Therapeutics will allow the company to self-fund its continuing discovery programs while acting as a magnet for additional external commercial or clinical stage projects.