Enanta Pharmaceuticals, a US-based developer of drugs for infectious diseases backed by trade peers Shionogi and Abbott Labs, has filed for a $69m flotation.
Both Shionogi and Abbott market a generic rival to Enanta’s treatment for MRSA infections. Abbott has also paid $92.45m in license fees and milestone payments to Enanta and bought its $12.5m of series G stock at $2.71 per share in November 2006, according to a regulatory filing.
Shionogi owns 12.5% of Enanta before its initial public offering, while Abbott Labs has 8.38%.
The other investors owning more than 5% are venture capital firms TVM Life Science Ventures (18.76%), Oxford Biosciences/Saints Capital (15.68%), Industry Ventures (7.14%) and HBM Healthcare Investments (7.11%) and the Private Equity Holding Co. (5.95%).
Enanta previously disclosed it had raised $20m in August 2004 including from Shionogi as a new investor and $18m in 2002.
Enanta had $25m in net income on around $40m in revenue for the first nine months of the calendar year, compared to $27m in net income on $42m in revenue for the year-earlier period.
Investment banks JP Morgan and Credit Suisse are co-lead underwriters of the IPO.