EyeGate ekes out a tiny IPO to fund its R&D efforts

Massachusetts' EyeGate Pharmaceuticals ($EYEG) picked up $10 million in an IPO do-over, raising cash to support its sole clinical candidate. The company priced 1.2 million shares at $8.50 each, making its way to the Nasdaq after scrapping previous IPO plans last year. With the funds, EyeGate will advance EGP-437, a treatment for a range of inflammatory ocular diseases that relies on the company's proprietary delivery device. Earlier this month, Valeant Pharmaceuticals ($VRX) bought into the program, trading $1 million up front and promising as much as $32.5 million more tied to regulatory and sales milestones. Story