Report: PregLem tests IPO waters

PregLem is exploring the possibility of an IPO later this year, two sources tell Bloomberg. The Switzerland-based company, which specializes in women's health products, has hired Credit Suisse Group to assist with the potential IPO. CEP Ernest Loumaye declined to comment on the report. The company has raised $65 million since its inception in 2007.

PregLem's lead product is Esmya, a Phase III candidate for the treatment of uterine fibroids. Thought the uterine tumors are benign, they can cause heavy bleeding, pain and infertility in women. If approved, Esmya would be the first of a new type of treatment for the disease. PregLem hopes to market the drug in Europe by 2012 and file for U.S. approval the same year. Esmya is already approved in both Europe and the U.S. as an emergency contraceptive. 

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