US-based biopharmaceutical company Viamet has filed for an initial public offering that could raise up to $75m.
Viamet develops treatments based around metalloenzymes, enzymes that contain a metal such as iron or zinc, to treat fungal diseases. It plans to use the funds to support progress of three of its drug candidates through Phase 1 or 2b clinical trials.
The company’s two largest shareholders are the corporate venturing units of pharmaceutical companies Novartis and Eli Lilly, which hold stakes worth 25.1% and 21.9% respectively.
Other notable shareholders include Hatteras Venture Partners (15%), Intersouth Partners (12.1%) and A&B Equity Holdings (10%). Viamet has raised approximately $95.5m since it was founded in 2004.
Piper Jaffray, Stifel and Wells Fargo Securities are acting as joint bookrunners on the deal.