NB Capital-backed Forward Pharma files for IPO

Forward Pharma's IPO could become the largest biotech flotation on Wall Street in 2014, proving lucrative for its backers. These include Danish NB Capital (formerly Nordic Biotech), UK-based BioScience Managers and San Francisco's BVF Partners.

The capital raised by Forward Pharma will be spent on clinical trials for its experimental multiple sclerosis treatment, FP187, as well as clinical development and intellectual property litigation, where the company expects friction with US business Biogen Idec over the FP187.

Forward Pharma filed an F-1 form with the Securities and Exchange Commission to propose an IPO under the ticker symbol "FWP".

NB Capital told unquote" it could not comment on the matter at this stage of the IPO process.

Forward Pharma was founded in 2005 and is headquartered in Copenhagen, with subsidiaries in Lepizig and the US.

The biotech firm focuses on the applications of dimethyl fumarate and its derivatives in treating immune disorders such as multiple sclerosis and psoriasis.

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