Drug-device biotech SteadyMed swings for a $55M IPO

Israel's SteadyMed is plotting to raise $55 million on Wall Street to support its development of a drug-device combination treatment for pulmonary arterial hypertension (PAH). The company's lead candidate is Trevyent, a disposable pump that administers the active ingredient in United Therapeutics' ($UTHR) PAH treatment Remodulin. SteadyMed believes it can compete with the intravenous Remodulin among the roughly 30,000 Americans with PAH, and the company expects to submit SteadyMed for FDA approval in the first quarter of 2016. Beyond its lead candidate, the company has two early-stage candidates for post-surgical and acute pain, each using the same pump technology. More

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