Concert Pharmaceuticals, which is developing drugs via deuterium substitution for spasticity and kidney disease, raised $84 million by offering 6.0 million shares (all primary) at $14, the high end of the $12 to $14 range. The company had originally planned to offer 5.0 million shares. Insiders and collaborator Celgene plan to purchase $16.7 million on the IPO (20% of the deal), up from the originally planned $14 million. Concert now commands a fully diluted market value of $262 million.
Renaissance Update: The updated news story reflects the correct range of $12-$14 not $14-$16 as previously reported.
