Termeer-backed ProQR lays out terms for $75M IPO

The Dutch biotech ProQR, which has rounded up cash from a group of backers that includes former Genzyme CEO Henri Termeer, has laid out its proposed terms for a $75 million IPO. The biotech, which is focused on the role of messenger RNA in cystic fibrosis, plans to sell 6.3 million shares at $11 to $13 a share. The company, which is tackling the same patient population as Boston-based Vertex ($VRTX), has plans to file an IND on its lead drug later this year. After that Termeer and his group of well-connected biotech execs who are advising the company--which includes Dinko Valerio, the former CEO of J&J's ($JNJ) Crucell--expect to take the program all the way through to commercialization. Story