Ambit Biosciences, a US-based anti-cancer drugs developer backed by peers Roche and AstraZeneca’s (AZ) corporate venturing units, has restarted plans to float on the Nasdaq stock exchange, according to a regulatory filing first seen by news provider Fierce Biotech.
Ambit, formerly known as Aventa Biosciences, has hired investment banks Citigroup and Leerink Swann for its $57.5m initial public offering (IPO) after raising more than $165m.
Ambit said in its regulatory filing that its shareholders have agreed to buy shares in the IPO, offering some price support.
AZ’s MedImmune Ventures owns 13.4% of Ambit with and Roche Ventures (15%).
Venture capital firms Apposite Healthcare (18.2%), Forward Ventures (12.9%), GIMV (9.5%), GrowthWorks (9.8%), OrbiMed Advisors (21.5%), and Perseus-Soros Biopharmaceutical Fund, which is managed by Aisling Capital (20.6%), are also investors owning more than 5%.
In 2011, Ambit withdrew an $86.25m registration for its US flotation in favour of extending its series D round by $30m.
Venture capital firm Apposite Capital led the D-2 round at $0.70per share in June 2011, which included peers Perseus-Soros Biopharmaceutical Fund, OrbiMed Advisors, Forward Ventures, GIMV, GrowthWorks, Radius Ventures, Horizon Technology Finance and NovaQuest (which spun off from drugs group Quintiles in November) and corporate venturing backing firm Genechem, Roche Venture Fund and MedImmune Ventures.
In November, Ambit raised $50m in its series E round from a consortium including Roche and MedImmune at $0.70 per share.
In October 2010, Ambit raised $15m of a planned $15.9m round of debt, rights and securities from 18 investors, according to a recent regulatory filing first seen by news provider Xconomy.
Ambit originally raised $49.3m in its series D round in 2007, led again by Apposite Capital and including MedImmune Ventures; NovaQuest; Roche Venture Fund; and Genechem. The other VCs in the D round were OrbiMed Advisors, Radius Ventures, Horizon Technology Finance, Perseus-Soros Biopharmaceutical Fund, Forward Ventures, Avalon Ventures, GIMV and Jov-CMDF.
In May 2005, Ambit made the final close of its series C round at $31m led by Roche Venture Fund, while the first two rounds raised an aggregate $20.8m in 2000.