San Diego's Pfenex Inc. Files For A $75 Million IPO To Fund Development Of Wet AMD Drug
Pfenex, a biotech developing an alternative to Roche's Lucentis treatment for wet AMD, filed on Thursday with the SEC to raise up to $75 million in an initial public offering. Lucentis generates over $4.3 billion annually for Roche, which manufactures and sells the drug in the U.S., and Novartis ( NVS ), which markets it outside the country. Pfenex is also developing candidates for other high-value protein therapeutics.
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