Regulus Therapeutcis, a US-based pharmaceutical company formed as a spin-off of Alnylam pharmaceuticals and Isis, has raised $80.9m from its recent initial public offering (IPO).
Regulus raised $50.9 from selling 11.3m common stock in its recent IPO at the price of $4 per share to trade peers Isis, Sanofi and GlaxoSmithKline.
Regulus also raised $25m frorm the sale of common stock in private placement to one of its strategic partners, AstraZeneca. There was also $5m raised from the sale of a convertible note in August of this year to research collaborators Biogen Idec.
Regulus cut the stock price which was initially proposed at $10 to $12 per share as well as increasing the number of shares it has to offer.
Kleanthis Xanthopoulos, executive president of Regulus, said: “We are excited to have reached this important point in Regulus’ life. With the company well capitalized for the foreseeable future, we are focused on building a meaningful clinical portfolio and realizing the transformative potential of microRNA therapeutics.”