Rib-X Pharma Files for IPO

Xconomy Boston — 

New Haven, CT-based Rib-X Pharmaceuticals announced today that it has filed a registration statement with the SEC for an initial public offering. The company, which is developing antibiotics, has yet to determine the number of shares it will offer or the price range. Deutsche Bank Securities will manage the offering, with assistance from William Blair & Company, Lazard Capital Markets, and Needham & Company.

Rib-X developed a drug-discovery platform based around an atomic, three-dimensional picture of the interactions between drug candidates and the bacteria they are targeting. The company has two antibiotics in clinical trials, one to treat skin infections and the other to treat drug-resistant infections. It has also partnered with French drug giant Sanofi to develop a new class of antibiotics—a deal that could be worth as much as $772 million to Rib-X.

Since its inception in October 2000, Rib-X has raised a total of $208.4 million in private funding. Its investors include Warburg Pincus, MedImmune Ventures, and Oxford Bioscience Partners.

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