Ardelyx

Ardelyx Announces Pricing Of Its Initial Public Offering

FREMONT, Calif., June 18, 2014  — CMEA Capital portfolio company Ardelyx, Inc., a clinical-stage biopharmaceutical company focused on cardio-renal, GI and metabolic diseases, today announced the pricing of its initial public offering of 4,286,000 shares of common stock at a public offering price of $14.00 per share. The shares are expected to begin trading on The NASDAQ Global Market under the ticker symbol “ARDX” on June 19, 2014. In addition, Ardelyx has granted the underwriters a 30-day option to purchase up to an additional 642,900 shares of common stock at the initial public offering price to cover over-allotments, if any. The offering is expected to close on June 24, 2014 subject to customary closing conditions.

Citigroup and Leerink Partners are acting as joint book-running managers for the proposed offering. JMP Securities is acting as the lead manager and Wedbush PacGrow Life Sciences is acting as co-manager.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on June 18, 2014. The offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to these securities will be filed with the SEC and may be obtained, when available, from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, by email at batprospectusdept@citi.com or by phone at (800) 831-9146 or from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by email at syndicate@leerink.com, or by phone at (800) 808-7525, ext. 4814.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Ardelyx, Inc.

Ardelyx is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of innovative, non-systemic, small molecule therapeutics that work exclusively in the gastrointestinal tract to treat cardio-renal, gastrointestinal and metabolic diseases. The Company has developed a proprietary drug discovery and design platform enabling it, in a rapid and cost-efficient manner, to discover and design novel drug candidates. Utilizing this platform, Ardelyx has discovered and designed tenapanor, a product currently in Phase 2 clinical trials that has consistently demonstrated the ability to reduce the absorption of dietary sodium and phosphorus, both of which are recognized as key factors in the progression of kidney disease. Ardelyx formed a collaborative partnership with AstraZeneca in October 2012 to develop and commercialize tenapanor. In addition to tenapanor, the Company is evaluating small molecule NaP2b inhibitors for the treatment of hyperphosphatemia in ESRD, a program licensed to Sanofi, and independently is advancing three additional research programs focused in cardio-renal, GI and metabolic diseases. Ardelyx is located in Fremont, California. For more information, please visit Ardelyx’s website at www.ardelyx.com.

About CMEA Capital

CMEACapital is a San Francisco-based venture capital firm with a clear focus on life sciences, high technology, and energy and materials investments. They believe that the most successful venture backed companies are those that are science based, with experienced teams that have a vision. As a result, CMEA Capital typically invests in companies that have cutting edge and highly differentiated technology at their core and founding teams of the highest caliber still in place. These are companies that have the potential to transform their industries.

 

 

Source: PRNewswire

Auspex Pharmaceuticals

Auspex Announces Completion Of Initial Public Offering

Auspex Announces Completion Of Initial Public Offering And Exercise In Full Of Underwriters’ Over-Allotment Option

 

LA JOLLA, Calif., Feb. 10, 2014 /PRNewswire/ — Auspex Pharmaceuticals, Inc. (Nasdaq: ASPX), a biopharmaceutical company focused on developing and commercializing novel medicines for the treatment of orphan diseases, today announced the completion of its initial public offering of 8,050,000 shares of its common stock at an initial public offering price of $12.00 per share.  This includes the exercise in full by the underwriters of their option to purchase up to 1,050,000 additional shares of common stock.  Auspex’s common stock is listed on the NASDAQ Global Market under the trading symbol “ASPX.”  Auspex expects to use the net proceeds from the offering primarily for the clinical development and commercialization of SD-809, as well as for general corporate purposes.

The joint book-running managers for the offering were Stifel and BMO Capital Markets. In addition, Robert W. Baird & Co. Incorporated, William Blair and Company, L.L.C. and Ladenburg Thalmann & Co. Inc. acted as co-managers.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 4, 2014.  The offering was made by means of a prospectus, copies of which may be obtained from Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700,San Francisco, CA 94104, Attention: Syndicate, by telephone at (415) 364-2720 or by email to SyndicateOps@stifel.com, or from BMO Capital Markets Corp., 3 Times Square, 27th Floor, New York, NY 10036, Attention: Equity Syndicate Department, by telephone at (800) 414-3627 or by email tobmoprospectus@bmo.com.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Auspex Pharmaceuticals
Auspex Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel medicines for the treatment of orphan diseases. Auspex’s pipeline includes product candidates to address unmet medical needs in hyperkinetic movement disorders, such as chorea associated with Huntington’s disease, tardive dyskinesia and Tourette syndrome, as well as other orphan indications. Auspex’s lead product candidate, SD-809, is in a Phase 3 registration clinical trial for the treatment of chorea (abnormal involuntary movements) associated with Huntington’s disease. Auspex has employed its deuterium chemistry approach to optimize other deuterium-containing compounds in its portfolio that are at various stages of development. For further information, please visit the company’s website www.auspexpharma.com.

SOURCE Auspex Pharmaceuticals

News Provided by Acquire Media

Velocity Pharmaceutical Development

Velocity Pharmaceutical Development and Tigercat Pharma Inc. Announce Submission of IND Application for VPD-737

SOUTH SAN FRANCISCO, Calif.Aug. 19, 2013 /PRNewswire/ — Velocity Pharmaceutical Development, LLC (“VPD”) and Tigercat Pharma, Inc., (“Tigercat”) announced today the submission of an Investigational New Drug (IND) application to the US Food and Drug Administration (FDA) for VPD-737 for the treatment of chronic pruritus.

Tigercat licensed worldwide rights to VPD-737 (Serlopitant), an NK-1 receptor antagonist, from Merck (Essex Chemie) in 2012.  Tigercat intends to develop VPD-737 through clinical proof of concept for the treatment of chronic pruritus, defined as itch lasting for more than 6 weeks. This condition results in more than one million doctor visits per year in the US. Chronic pruritus is associated with significant morbidity and can result in serious disruption of sleep and other activities of daily living.

“Preclinical studies and compelling clinical evidence about the use of NK-1 receptor antagonists led us to believe that treatment with VPD-737 may significantly and rapidly reduce pruritus associated with a variety of conditions” said David Collier, CEO of VPD. “We believe this drug has the potential to address a major underappreciated medical need.”

Jean Tang M.D., Ph.D., Professor of Dermatology at Stanford University School of Medicine said “Chronic itch is a largely underserved indication with few effective treatments.  The existing drugs to treat chronic itch are at best only modestly effective and in addition, they are poorly tolerated. Thus we are very excited to see VPD-737 approaching clinical testing.”

About Tigercat Pharma, Inc.
Tigercat Pharma, Inc., is a largely “virtual” company which was created to hold the ownership of the VPD-737 development program.  Tigercat is funded by Velocity Pharmaceutical Holdings, LLC, and Remeditex Ventures, LLC.  The VPD-737 development program is managed under contract by VPD.

About Velocity Pharmaceutical Development, LLC 
VPD is a pharmaceutical development organization dedicated to rapidly advancing promising drug candidates to clinical proof of concept using a highly virtual management model.  VPD seeks to acquire promising drug candidates, generally within a year of their entering human clinical trials or after initial human clinical data have been generated.  VPD then manages a highly virtual development program for each drug candidate intended to generate convincing human proof of concept data (generally by conducting a phase 2 clinical trial).  Following successful human proof of concept, VPD then seeks a large pharmaceutical company acquirer for each program.  VPD is staffed by a seasoned team of clinical drug developers with expertise identifying attractive drug candidates, target markets, and designing and managing outsourced clinical trials. This expert team manages multiple single asset companies to remove the costly overhead and misaligned incentives present in traditional biotechnology company structures. VPD operates on a rapid decision principle, which identifies drug candidates with the greatest promise and repurposes capital from those that don’t work out early in the process. VPD believes this new capital-efficient model will yield attractive new drugs to treat patients with significant unmet clinical needs. The company is located in South San Francisco, California.  More information is available at www.vpd.net.

About Velocity Pharmaceutical Holdings, LLC
Velocity Pharmaceutical Holdings, LLC, is an entity funded by CMEA Capital that makes investments in highly virtual, project-focused pharmaceutical development companies that are managed by Velocity Pharmaceutical Development, LLC.  More information is available at www.vpd.net and www.cmea.com.

About Remeditex Ventures, LLC
Remeditex is a company that seeks to develop opportunities in need of commercial validation, guidance, and capital. Its mission is to develop early stage biomedical science and make Texas and Colorado a preferred location for biotechnology companies, venture capitalists, and entrepreneurs by accelerating the pace of commercialization of biomedical research; help create and support a thriving biotechnology industry; attract biotech venture capital to Texas and Colorado; and achieve significant returns to support the next generation of promising science. More information is available at www.Remeditex.com.

Contact
Leslie Loven
1-415-524-7326
leslie@vpd.net

SOURCE Velocity Pharmaceutical Development, LLC