Carbylan Therapeutics, which is developing a novel, injectable treatment for osteoarthritis pain, announced terms for its IPO on Friday. The Palo Alto, CA-based company 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, Carbylan Therapeutics would command a fully diluted market value of $211 million.
Carbylan Therapeutics, which was founded in 2004 and booked $0 million in sales for the 12 months ended September 30, 2014, plans to list on the NASDAQ under the symbol CBYL. Leerink Partners is the sole bookrunner on the deal. It is expected to price during the week of February 2, 2015.
