Pronova touts blockbuster, prepares IPO

Touting what it terms as a potential blockbuster among its products, Norway's Pronova BioPharma has outlined plans to sell about 106 million shares in an IPO prices at 23-29 nkr a share. The IPO for Pronova, which develops drugs based on Omega-3 fish oil, values the company at $1.25 billion to $1.57 billion.

"Pronova BioPharma is a highly profitable, fast-growing biopharma company and following strong progress in recent years, it is now an appropriate time to broaden our shareholder base," said Pronova chief executive Tomas Settevik.

- read the AFX report on Pronova's plans

ALSO: Targanta Therapeutics expects to raise up to $67.9 million from its IPO. Targanta was a 2007 Fierce 15 company. Report