Burrill Biotech Select Index manages to claw back almost half the value it lost in October

October 19, 2015

- Ironwood Pharmaceuticals: hoping to raise up to $173 million in an initial public offering. Linaclotide, the company's first in class compound, is being evaluated in a confirmatory Phase III program for the treatment of irritable bowel syndrome with constipation and chronic constipation. Ironwood has already raised $306 million in private equity financing and recently announced that it had partnered with Japanese pharmaceutical powerhouse Astellas granting them exclusive rights to develop and commercialize linaclotide in Japan, Indonesia, Korea, the Philippines, Taiwan, and Thailand.

- Trius Therapeutics, which focuses on the discovery, development and commercialization of antibiotics for serious infections, filed to raise up to $86 million. The San Diego, CA-based company, is planning two phase III trials of the second-generation oxazolidinone that inhibits bacterial protein biosynthesis to treat serious Gram-positive bacterial infections.

- Alimera Sciences, developing products that treat retina-related diseases, filed to raise up to $80 million. Presently the company is focused on diseases affecting the retina. Its most advanced product candidate is Iluvien?, which is being developed for the treatment of diabetic macular edema.

- Durham, North Carolina based Aldagen also took its place in the queue of companies hoping to go public in the coming months as the IPO window begins to open. The company, which develops regenerative cell therapies, had initially filed to go public in May 2008 but withdrew those plans last October when the stock market melted down. The company hopes to raise an estimated $80.5 million in an initial public offering to fund a phase III trial of its most advanced therapy for the treatment of critical limb ischemia.

SOURCE Burrill & Company