Osteoarthritis biotech Carbylan swings for a $75M IPO

Palo Alto, CA's Carbylan Therapeutics has set terms for an IPO worth $75 million at its midpoint, working to get a treatment for osteoarthritis pain through late-stage development. The company plans to move 5.8 million shares at between $12 and $14 each, setting aside another 870,000 shares for its underwriters and tabbing a maximum deal value of $93.4 million. With the proceeds, Carbylan will pay for the ongoing Phase III studies of Hydros-TA, an injectable treatment for arthritic knee pain. The biotech expects to submit the drug for FDA review next year. Filing

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