Tuesday, June 19, 2007

MAP Pharmaceuticals Files For IPO

Mountain View-based MAP Pharmaceuticals, a developer of inhalation technology for drug delivery, has filed for an IPO. The firm said in a filing with the SEC Monday that it is looking to raise up to $86.25M in an IPO on the Nasdaq Global Market as "MAPP". The firm's IPO is being underwritten by Merrill Lynch & Co., Morgan Stanley, and Deutsche Bank Securities. MAP is venture backed by Perseus-Soros Biopharmaceutical Fund; Pequot Private Equity; Brookside Capital Partners; Bay City Capital Fund; and Skyline Partners, among others. MAP reported a net loss of $25.8M and no revenue for the year ended December 31, 2006.