Mountain View, Calif.
Went public 3/28/2000 at $15 apiece
Filing Range:7.5 mil. shares @ $13 to $15
Shares Outstanding:28.58 mil. shares
Underwriters:Deutsche Banc Alex. Brown
Warburg Dillon Read/SG Cowen/Adams, Harkness & Hill
(Data in $ millions)
Total Revenue $6.36 $7.86
IntraBiotics Pharmaceuticals develops and intends to commercialize new antibacterial and antifungal drugs for the prevention or treatment of serious infectious diseases. Phase III clinical trials are about to begin on its two lead product candidates, Ramoplanin Oral and Protegrin IB-367 Rinse. Phase II clinical trials indicated each of these products was well tolerated and support further efficacy trials. These antibiotics may solve medical problems for patients who currently have few or no satisfactory alternatives. Since these antibiotics kill bacteria and fungi in new ways, they may be particularly useful in fighting multi-drug resistant bacteria that cannot be killed with currently available antibiotics. The increasing incidence of multi-drug resistant bacterial infections has created a global health care problem, commonly referred to as the antibiotics crisis. It will also begin Phase I trials with two other clinical uses and formulations of ProtegrinIB-367. The company pursues parallel development of product candidates at various stages, while development programs focus on significant unmet medical needs that provide substantial commercial opportunity and limited competition. It now has in-licensed five antibiotic compounds or technologies.
Funding clinical trials and the development and scale up of manufacturing processes by contract manufacturers. The balance and existing cash will be used to fund and expand new and existing research and development activities including identification, testing and acquisition of additional potential in-licensing candidates, working capital and other general corporate purposes.
Sprout Group, Investor Ltd., Spinaker Technology, St. Paul Venture Capital Inc., New York Life Insurance Co., International BM Biomedicine Holdings Inc.