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Drug developer Achillion files for IPO

March 31, 2006

Achillion, a developer of novel treatments for infectious diseases, including HIV and Hepatitis C, registered for an initial public offering late Friday night. The New Haven, CT-based company generated $8.5 million in sales for the 2005 fiscal year, but has yet to turn a profit. Cowen & Co., CIBC World Markets and JMP Securities will underwrite the deal. Terms and timing have yet to be disclosed.