Impressive Exit for Philadelphia – Strongbridge Biopharma PLC

Strongbridge Biopharma PLC, a Trevose, Penn.-based drug company focused on rare diseases like endogenous Cushing’s syndrome, has set its IPO terms to 4.25 million shares. This could raise around million, based on the $17.93 trading price of its shares last Friday on the Norwegian Over-The-Counter System. It plans to list on the Nasdaq under ticker symbol SBBP, with BofA Merrill Lynch and Stifel serving as lead underwriters. Shareholders in the pre-revenue company include TVM (12.6% pre-IPO stake), HealthCap (11.9%), RA Capital (10.9%) and New Enterprise Associates (8.5%).

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