Predix Pharmaceuticals Holdings, a drug discovery and development company, has announced that it filed a registration statement with the Securities and Exchange Commission (SEC) relating to the proposed initial public offering of primary shares of its common stock.
UBS Investment Bank will be acting as the sole book-running manager. Deutsche Bank Securities Inc. will be a co-lead manager and CIBC World Markets Corp. and ThinkEquity Partners LLC will be co-managers.
Predix is a privately held company based in Lexington, Massachusetts and Ramat Gan, Israel. In January 2005, Predix completed a $43 million Series C private equity financing led by Forward Ventures, Boston Millennia Partners, and CMEA Ventures. Additional investors participating in this round included new investors Novel Bioventures, Yamanouchi Venture Capital, Yasuda and JAFCO Ventures, as well as previous investors OrbiMed Advisors LLC, S.R. One, Yozma Group, International Life Science Partners and PA Consulting.
Predix focuses on the discovery and development of novel, highly selective, small-molecule drugs that target G-Protein Coupled Receptors (GPCRs) and ion channels. Using its proprietary drug discovery technology and approach, Predix has advanced three drug candidates into clinical trials and has six additional programs in preclinical development and discovery.
Predix's lead clinical-stage drug candidate, PRX-00023, completed a Phase II clinical trial in patients with generalized anxiety disorder in July 2005, and Predix expects to begin screening patients for the first of at least two pivotal Phase III clinical trials for this indication in early August 2005.
Two other clinical-stage drug candidates, PRX-03140 for the treatment of Alzheimer's disease and PRX-08066 for the treatment of pulmonary arterial hypertension, are in Phase I clinical trials.
Published by Globes [online], Israel business news - www.globes.co.il - on Thursday, August 04, 2005