The dyslipidemia treatment developer has filed for a $60m initial public offering that will allow Pfizer, from which it licensed its lead candidate, to exit.
US-based biopharmaceutical company Gemphire Therapeutics has filed to raise up to $60m in an initial public offering that would provide an exit to pharmaceutical firm and licensing partner Pfizer.
Gemphire is developing treatments for dyslipidemia, a condition that increases the risk of serious cardiovascular disease. Its lead candidate, Gemcabene, was licensed from Pfizer in 2011.
The IPO proceeds will support three late-stage clinical trials for Gemcabene as well as manufacturing and preclinical study-related costs for the candidate.
The Gemcabene licensing…
