NovaCardia, Quark Biotech file for $86M IPOs

NovaCardia has filed for an IPO with an aggregate offering price of $86.25 million. JPMorgan, Credit Suisse, Pacific Growth Equities and First Albany Capital are handling the offering. NovaCardia raised $48 million in its second round of venture capital last September. Researchers for the San Diego-based company presented positive data on KW-3902 last November that demonstrated an improvement in the renal function of CHF patients receiving diuretic therapy.

Fremont, CA-based Quark Biotech, meanwhile, has filed for an $86.25 million IPO. Quark says it will use much of the money it raises to back the development of new therapies for cancer and fibrotic diseases.

- read the report on NovaCardia from StreetInsider
- and here's the AP report on Quark's IPO

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