Phenomix says now is the time to go public. The San Diego-based drug developer has filed papers with the SEC that outline an initial public offering designed to raise $86 million. Phenomix has development programs for type 2 diabetes as well as hepatitis C. Its lead program is a mid-stage DPP4 inhibitor. Its long list of venture backers include JP Morgan FUnds, Nomura Phase4 Ventures, Delphi Funds, Alta Partners Funds, Sofinnova Funds, Novartis Funds. Morgan Stanley, Credit Suisse, Oppenheimer & Co. and Pacific Growth Equities will underwrite. Phenomix was a 2007 Fierce 15 company.
- see this release
- here's the report from SoCalTech