Concert Pharmaceuticals, which is developing novel small molecule drugs for the treatment of spasticity and diabetic kidney disease, announced terms for its IPO on Monday. The Lexington, MA-based company plans to raise $65 million by offering 5 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Concert Pharmaceuticals would command a market value of $230 million.
Concert Pharmaceuticals, which was founded in 2006 and booked $24 million in license and milestone revenue for the 12 months ended September 30, 2013, plans to list on the NASDAQ under the symbol CNCE. Concert Pharmaceuticals initially filed confidentially on November 6, 2013. UBS Investment Bank and Wells Fargo Securities are the joint bookrunners on the deal.
