PolyPid Set To File For $23M IPO On NASDAQ

October 20, 2014 | The orthopedic drug developer PolyPid published an open draft prospective for raising $23 million in a NASDAQ public offering. While no company value was listed, it is believed that the company will be valued at about $100 million, after money. The offering will be led by Aegis with MLV and Chardan Capital acting as secondary underwriters and is set to take place next month. PolyPid’s primary shareholder is the Xenia incubator and has raised $12.7 million to date. PolyPid has developed an implant that releases drugs into the bones, with applications in the dental and medical sectors, which is set to begin clinical trials in the US and Europe in 2015.