Wednesday, March 19, 2014

Alder Biopharmaceuticals Files For $115M IPO

Bothell, Washington-based Alder Biopharmaceuticals has filed for an IPO, saying today that it is looking to raise up to $115M in an IPO on the NASDAQ Global Market. The company says it has applied to list as ALDR on the exchange. The IPO is being underwritten by Credit Suisse, Leerink Partners, Wells Fargo Securities, and Sanford C. Bernstein. Alder Biopharmaceuticals is venture backed by Sevin Rosen, Ventures West 8, Novo A/S, H.I.G. Venture Partners, Delphi Ventures, TPG Biotechnology Partners II, and others. Alder has developed an antibody-based platform which is being applied to treatments for migraines, rheumatoid and psoriatic arthritis, and other conditions.