ARYx Therapeutics Inc.

Fremont, Calif.


Exchange and Ticker: Nasdaq: ARYX

Filing Range: 5M shares @ $14.00 to $16.00

Offering Price: $10.00

Close on First Day: $9.00

Offering Size: $50.00M

Shares Outstanding: 17,536,645

Underwriters: Morgan Stanley

CoManager: CIBC WorldMarkets Inc./ Jefferies & Co. Inc./ Leerink Swann & Co.

Company Counsel: Cooley Godward

Manager Counsel: Davis Polk & Wardwell

Auditor: Ernst & Young LLP

Market Capitalization on 11/30/07: $131.52M

Close price at current month end: $7.50


Company aims to enhance drug safety using the retro-metabolic concept. Its products are conceived around validated targets, using therapeutic agents. This method is designed to produce inherently safer drugs, addressing a medical need of the pharmaceutical industry. Competitors include Novartis Pharmaceuticals Corp., Alizyme plc, Johnson & Johnson, Bayer AG, Pfizer Inc. and Eli Lilly.


Ascent Biomedical Ventures, ATEL Ventures Inc., Itochu Corp., JAFCO Co., JAFCO Investment, Merlin Nexus, Montreux Equity Partners, MPM Capital, OrbiMed Advisors.

Source: Thomson Financial