Positive Phase III data inspires $133M Eurand IPO

Eurand has filed for an IPO of seven million shares designed to raise up to $133 million. The drug developer, which has operations in Europe as well as the U.S., plans to sell its shares for $17 to $19 each. The offering is following closely on the heels of an announcement in early April that its lead therapy delivered positive results in two late-stage studies. Deutsche Bank Securities, Lehman Brothers, Banc of America Securities, Lazard Capital Markets and Thomas Weisel Partners are underwriting the IPO, according to a filing with the Securities and Exchange Commission.

- see the release on the offering
- and here's the release on last month's trial data

ALSO: Perlegen Sciences, meanwhile, has pulled its plans for an IPO aimed at raising $115 million. Report