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NovaCardia, Inc. Files for $86.25 Million IPO


3/30/2007 10:35:32 AM

SAN DIEGO, March 29 /PRNewswire/ -- NovaCardia, Inc. announced today that it has filed a registration statement with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. All shares of the common stock to be sold in this offering will be offered by NovaCardia.

J.P. Morgan Securities Inc. and Credit Suisse Securities (USA) LLC will act as joint book-running managers and Pacific Growth Equities, LLC and First Albany Capital Inc. will act as co-managers for the offering.

The offering will be made only by means of a prospectus. When available, a copy of the preliminary prospectus relating to the offering may be obtained from: J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attention: Prospectus Department, or Credit Suisse Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York, NY 10010.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction.

About NovaCardia

NovaCardia is a clinical-stage pharmaceutical company focused on developing drugs to treat major cardiovascular diseases that are underserved by existing therapies. The company has two compounds in clinical development, KW-3902 for congestive heart failure and K-201 (JTV-519) for atrial fibrillation.

Source: NovaCardia, Inc.

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