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Durham Drug Developer NephroGenex Files For $46 Million IPO


12/27/2013 7:27:13 AM

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NephroGenex Inc., which is developing kidney disease treatments, filed to go public on Tuesday with the intention of raising $46 million. The Durham-based company pegged its initial public offering price at between $12 and $14 and will use the proceeds to further develop its therapeutics. Specifically, NephroGenex will continue clinical development of a drug called Pyridorin for the treatment of diabetic nephropathy in patients with Type 2 diabetes, including an anticipated Phase 3 trial.

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