Seattle-based Trubion Pharmaceuticals outlined plans to raise $69 million in an upcoming IPO. Trubion officials say they plan to sell 4.6 million shares at $13 to $15 apiece. Morgan Stanley, Banc of America Securities, Pacific Growth Equities and Lazard Capital Markets are underwriting the offering. Another regional biotech, Light Sciences Oncology, is reportedly planning to finish its IPO as early as this week. Trubion was tapped as a 2006 Fierce 15 company after striking an $800 million collaboration deal with Wyeth to advance its work with small modular immunopharmaceuticals, or SMIPs.
- here's the report on Trubion from the Seattle Times