Fremont-Based Ardelyx Inc. Files For $69 Million IPO
Ardelyx filed plans on Monday to raise up to $69 million in an IPO as it works on small molecule biotech treatments for kidney and gastrointestinal disease. The Fremont company led by CEO Michael Raab said it plans to list on the Nasdaq with the symbol of ARDX. It has raised about $35 million in funding since it was founded in 2007. Its biggest shareholders are New Enterprise Associates, which owns about 46 percent of its shares; CMEA (29 percent) and Amgen Ventures (6 percent).
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