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Friday, September 08, 2006

ImaRX Therapeutics Sets IPO Terms

ImaRX Therapeutics has set the terms for its IPO and plans to trade under the ticker "IMRX." ImaRX is Tucson, Arizona-based non-revenue stage therapeutics company developing novel therapies for vascular disorders associated with blood clots to help treat and prevent strokes and heart attacks and in areas of the brain, heart, and lungs. It uses near nanotech according to outside reports.

The company is in a Phase II proof of concept study evaluating proprietary SonoLysis Bubbles, ultrasound and tPA as a combination therapy. It is also in a post-marketed immunogenicity trial to evaluate patients’ immune response to Abbokinase administered intravenously for acute massive pulmonary emboli and other indications.

The Tuscon-based company plans to offer 5 million shares at a range of $10.00 to $12.00 per share. The IPO has a proposed market cap of $211 million. CIBC World Markets is the lead underwriter and Jefferies and First Albany Capital were listed as co-managers in the deal.

Jon C. Ogg
September 8, 2006

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