Tuesday, September 22, 2009

Anthera | Working to Thaw the Markets

CLSDF continues to maintain keen watch on the thawing of the public equity markets, calibrated in a semi-quantitative approach via the life science IPO pricings. If all three of the current filings get out priced ‘as-is’ I would then call the score FINANCING EVENT 3 & LIQUIDITY OPPORTUNITY 2. A nice balance and it makes sense as the three clinical-stage pre-revenue companies (Cumberland, Omeros and Anthera) appear to intend to use the public offering as a capital source to finance the phase III to commercialization processes.

Anthera Pharmaceuticals
is the newest name to be added to the CLSDF-IPO Watch List. Hayward, CA-based Anthera Pharmaceuticals is a privately-held company committed to developing and commercializing clinical pharmaceutical products that address unmet medical needs of patients with life-threatening, chronic and acute inflammatory diseases and autoimmune disorders. The Company has acquired from Eli Lilly (NYSE: LLY) and Shionogi & Co. worldwide rights (excluding Japan) to a series of clinical and pre-clinical compounds that inhibit the enzymatic activity of members of the phospholipase family - a group of enzymes responsible for the release of arachidonic acid and subsequent production of leukotrienes‚ prostacyclins and other mediators of inflammation. These highly potent compounds inhibit novel‚ upstream steps in the inflammation cascade and have the potential to address a variety of diseases.

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