Thursday, August 30, 2007

ARYx Therapeutics Files For IPO

Fremont-based ARYx Therapeutics has filed for an IPO, saying in a filing with the SEC Thursday afternoon that the firm is looking to IPO on the NASDAQ Global Market as "ARYX." The firm is looking to raise up to $86.25M in the IPO, which is being underwritten by Morgan Stanley, CIBC World Markets, Jeffries & Company, and Leerink Swann & Company. ARYx, which develops biopharmaceuticals, has a compound which just completed Phase II trials focused on treatment of gastroesophageal reflux disease (GERD). The company is venture backed by MPM Capital, Nomura Phase4 Ventures, OrbiMed Advisors, and others.