Hyperion Therapeutics, a US-based healthcare company backed by Ucyclyd, part of Medicis Pharmaceutical Corporation, filed on Friday for an up to $57.5m initial public offering.
The company develops drugs for treating orphan diseases and in the field of hepatology. The company’s main drug Ravicti treats urea cycle disorders and hepatic encephalopathy (the occurrence of a consciousness problem as a result of liver failure). It is looking to receive approval from US regulator Food and Drug Administration later this year.
It is attempting to list on Nasdaq under the symbol HPTX.
The company’s shareholders include Ucyclyd (5.5%). Its other investors are Sofinnova Venture Partners (21.4% before IPO), New Enterprise Associates (21.4%), Highland Capital Partners (18.5%), Panorama Capital (11.7%).
The flotation is advised by banks Leerink Swann, Cowen & Co and Needham & Co.
The company made a $29.4m loss last year on zero revenues.