Friday, March 30, 2007

Quark Biotech Files For IPO

Fremont-based Quark Biotech filed for an IPO this morning, saying it is looking to raise up to $86.25M in an IPO on the NASDAQ Global Market. Quark said in its filing that it is looking to trade under the symbol "QURK". Quark Biotech develops biopharmaceuticals, based on RNA interference-based therapeutics targeted at diseases associated with oxidative stress. The IPO is being underwritten by JPMorgan, Banc of America Securities, CIBC World Markets, and C.E. Unterberg, Towbin. The firm's majority owners are Tako Ventures--the venture capital fund of Larry Ellison--Trans- Science Funds, and Asuka DBJ Investment. Tako Ventures owns 43.4% of the firm.