Wednesday, March 19, 2014

Sevin Rosen, TPG-backed Biotech Files For IPO

A biopharmaceuticals startup backed two Texas venture investors-- Sevin Rosen and TPG--has filed for an IPO. Alder Biopharmaceuticals-- said this morning that it is looking to raised up to $115M in an IPO, and has applied to list as ALDR on the NASDAQ Global Market. The company develops antibody technology being applied to treat migraines, rheumatoid and psoriatic arthritis, and other conditions. Sevin Rosen owns about 23.7% of the company prior to the IPO, and TPG, via its TPG Biotechnology Partners II fund, owns 11.4%. Other investors in Bothell, Washington-based Alder Biopharmaceuticals are Ventures West 8, Novo A/S, H.I.G. Venture Partners, and Delphi Ventures. The IPO being being underwritten by Credit Suisse, Leerink Partners, Wells Fargo Securities, and Sanford C. Bernstein.