Tranzyme, a clinical-stage biotech developing small molecule therapeutics to treat gastrointestinal disorders, announced terms for its IPO on Tuesday. The Durham, NC-based company plans to raise $60 million by offering 5 million shares at a price range of $11 to $13. At the mid-point of the proposed range, Tranzyme will command a market value of $183 million. Tranzyme, which was founded in 1998 and booked $9 million in sales last year, plans to list on the NASDAQ under the symbol TZYM. Citi is the lead underwriter on the deal, for which timing was not disclosed.
