Hyperion Therapeutics, a biotech focused on the treatment of urea cycle disorders and hepatic encephalopathy, filed on Friday with the SEC to raise up to $58 million in an initial public offering. The company's lead candidate, Ravicti, is under FDA review and is expected to launch in the first half of 2013.
Venture capital backers include Sofinnova Venture Partners (21% pre-IPO stake), New Enterprise Associates (21%), Highland Capital Partners (19%), Bay City Capital (18%) and Panorama Capital (12%). CEO Donald Santel previously founded CoTherix, which was sold to Actelion for $420 million in 2007.
Hyperion Therapeutics plans to list on the NASDAQ under the symbol HPTX. Leerink Swann and Cowen & Company are the joint bookrunners on the deal.
