initial public offerings (IPOs) trading on American exchanges

Thursday, June 23, 2011

Clovis Oncology files for a $150 million IPO

BOULDER - Biopharmaceutical company Clovis Oncology Inc. expects to raise $150 million in an initial public offering, the company announced Thursday in a filing with the U.S. Securities and Exchange Commission.

Stock pricing terms were undisclosed in the SEC registration filing.

The Boulder-based company is developing three lead anti-cancer drug products for which it holds global marketing rights. Clovis has applied to be a part of the Nasdaq Global Market stock exchange under the symbol CLVS, according to the SEC filling. J.P. Morgan and Credit Suisse are the lead financial institutions associated with the deal.

Clovis Oncology was founded in April 2009 by former executives of Pharmion Corp., including Patrick Mahaffy, the company's chief executive. Pharmion was bought by Summit, New Jersey,-based Celgene Corp. in 2008 after developing oncology products in the United States and Europe.

Current Clovis investors include New Enterprise Associates venture capital and private equity firm with offices in Washington, D.C. and Menlo Park, California; and Pfizer Inc. (NYSE: PFE) biopharmaceutical company in New York City.

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