SteadyMed Therapeutics files for $55m Nasdaq IPO

Nasdaq  picture: Bloomberg

The drug delivery developer has filed for an IPO just 10 days after raising $12.2 million.

Drug delivery system development company SteadyMed Therapeutics Ltd. has filed with the US Securities and Exchange Commission (SEC) to raise $55 million in a Nasdaq IPO. The company was founded in the Zisapel family's RAD Biomed incubator and although today under US management and headquartered in San Ramon, California, much of the company's development is carried in its Rehovot offices. Among the company's investors are Ari Steimatzky.

The drug development company has filed for an IPO just 10 days after raising $12.2 million in equity financing.

The underwriters for the IPO are Wells Fargo, RBC and JP Morgan.

Founded in 2005, the company has developed PatchPump a novel, prefilled, size efficient and disposable subcutaneous drug delivery system. Its products are based on new formulations of drugs already available on the market, delivered by SteadyMed's unique system. The company's lead product is in the blood pressure treatment sector.

Published by Globes [online], Israel business news - www.globes-online.com - on February 8, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

Nasdaq  picture: Bloomberg
Nasdaq picture: Bloomberg
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