Kythera Biopharmaceuticals Prices IPO

Published: Sep 28, 2012

Kythera Biopharmaceuticals Inc. has set a pricing range for its planned initial public offering of 4 million shares at $14 to $16 per share.

The Calabasas-based company, which is in clinical stages for developing a drug to treat chin fat, is seeking to list on the Nasdaq Global Market under the ticker symbol KYTH.

The company filed a registration statement with the Securities and Exchange Commission for the IPO in May. It said J.P. Morgan Securities LLC and Goldman, Sachs & Co. will act as joint book-running managers for the offering. Leerink Swann LLC will act as lead co-manager and Lazard Capital Markets LLC will act as co-manager.

Kythera’s is developing ATX-101, is a potential injectable drug currently in Phase III clinical development for the reduction of submental fat, which commonly presents as an undesirable “double chin.” In August 2010, pharmaceutical giant Bayer AG signed a licensing and collaboration development agreement with Kythera, giving it development and commercialization rights to ATX-101 outside of the United States and Canada.

Kythera’s investors include Versant Ventures, Arch Venture Partners, Prospect Venture Partners and Jafco.

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