Supernus Pharmaceuticals, a former subsidiary of Shire with five product candidates that treat epilepsy, ADHD and depression, announced terms for its IPO on Wednesday. The Rockville, MD-based company, which was spun off in 2005, plans to raise $75 million by offering 5.8 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Supernus Pharmaceuticals would command a market value of $263 million.
Principal stockholders include New Enterprise Associates (45%), OrbiMed (18%), Abingworth Bioventures (18%) and Shire (7%). Supernus Pharmaceuticals, which was founded in 2005 and has yet to generate product revenue, plans to list on the NASDAQ under the symbol SUPN. Citi and Piper Jaffray are the joint bookrunners on the deal.
