Seattle Biotech Acucela Inc. Seeks $125 Million IPO in Japan to Develop Eye Drugs
12/18/2013 6:26:15 AM
Seattle-based Acucela is looking to raise as much as $125 million in an initial public offering to support its development of treatments against eye diseases.
Acucela today filed its IPO prospectus with the Securities and Exchange Commission, outlining plans to go public on the Tokyo Stock Exchange. It’s a logical place for Acucela to turn for investment capital, given that founder and CEO Ryo Kubota, 46, is a native of Japan. An ophthalmologist formerly with the University of Washington, Kubota has retained strong connections in his native country, and he has built Acucela with support of a key partner in Japan-based Otsuka Pharmaceuticals.
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