Paris, April 12. 2013 – Sofinnova Partners, a Paris-based venture capital firm, today announced the successful IPO of its portfolio company Omthera Pharmaceuticals on the NASDAQ Global Market in New York. Sofinnova Partners has been a shareholder since the start of the company in 2008. It was the sole investor during the series A funding and remained the largest shareholder at the time of the IPO which raised $64 M (€48.8 M).
Based in Princeton (New Jersey, United States), Omthera Pharmaceuticals is specialized in the treatment of dislipidemia – abnormalities in blood lipids – at the origin of numerous cardiovascular diseases. The funds raised will provide additional resources to ensure the development and the commercialization in the United States of Epanova™, Omthera Pharmaceuticals’s lead product.
Graziano Seghezzi, Partner at Sofinnova Partners, and Board member of Omthera Pharmaceuticals, says: « I have already worked with Jerry Wisler, Omthera Pharmaceutical’s co-founder, on the inception of his previous entrepreneurial projects, I am extremely pleased to have backed him again for the creation of Omthera Pharmaceuticals and for this new important step of the firm’s development. Omthera Pharmaceuticals typically illustrates our strategy which consists of backing visionary entrepreneurs developing disruptive technologies and products addressing unmet medical needs on large growing markets ».
The pricing of the 8,000,000 shares introduced on the NASDAQ Global Market was set à 8$. Trading began on April 11th. 2013 under the symbol « OMTH ». Please refer to the firm’s press release for additional information on the IPO.
About Sofinnova Partners
Sofinnova Partners is an independent venture capital firm based in Paris, France. For 40 years, the firm has backed nearly 500 companies at different stages of their development – pure creations, spin-offs, as well as turnaround situations – and worked alongside Europe’s key entrepreneurs in the Life Sciences industry. With €1.3 billion of funds under management, Sofinnova Partners has created market leaders with its experienced team and hands-on approach in building portfolio companies through to exit.