Mapi Pharma To Reconsider NASDAQ IPO

December 24, 2014 | The Israeli pharmaceutical company Mapi Pharma, developing delayed release drugs, is again considering an initial public offering in the United States. The company has recently released a delayed release version of Teva Pharmaceutical company’s drug Copaxone, which recently began human trials. Mapi attempted an IPO on NASDAQ in the second half of 2014, when it sought to raise $40 million at a company value of $200-230 million. However, when the company saw that they were unable to raise such an amount, it lowered its expectations but still was forced to cancel the offering. Now Mapi reportedly hopes to raise $10-30 million in the first quarter of 2015, either through public or private placement. Besides Teva, Mapi has signed three more agreements with other companies for the development of delayed release drugs. Mapi Pharma is headed by CEO Ehud Marom.