US-based biotechnology company FibroGen IPO, is seeking to raise up $125m in an upcoming IPO on Nasdaq, a recent SEC filing has detailed.
The number of shares to be offered and the price range for the offering have not yet been determined. Goldman Sachs, Citigroup Global Markets and Leerink Partners will serve as lead underwriters.
FibroGen is focused on the discovery, development, and commercialisation of therapeutic agents for treatment of anaemia, fibrosis, cancer and other serious illnesses. Money raised from the offering will go towards developing its lead prouct candidate, Roxadustat, and other drug candidates.
Primary shareholders in the company are pharmaceutical company Astellas Pharma, which owns 10.5%, and chairman and chief executive Thomas B. Neff, who owns 12.7%.
Fibrogen secured approximately $209m in funding between 2002 and 2007, according to SEC filings.
The largest round raised by the company came in 2005 when it receoved $102m from Adage Capital Management, Apothecary Capital, Brookside Capital Partners, Corriente Biotechnology Partners, Duquesne Capital Management, Goldman Sachs, Janus Capital Group, Merlin BioMed Group, Och-Ziff Capital Management, The Rosewood Corporation, Sigma Capital Management, and T. Rowe Price.