Sofinnova's Omthera raises €48.8m in IPO

The firm sold 8,000,000 shares of its common stock at $8 per share. Underwriters have a 30-day option to purchase an additional 1,200,000 shares of common stock.

Sofinnova has been a shareholder since the company launched in 2008, acting as the lead investor in the firm's $6.5m series-A funding round in 2010. In 2011, Sofinnova participated in a $33.9m series-B round for the firm, led by New Enterprise Associates.

Sofinnova was the largest shareholder at the time of the listing.

Based in Princeton, New Jersey, Omthera specialises in the treatment of abnormalities in blood lipids, which lead to numerous cardiovascular diseases.

Bank of America Merrill Lynch, Barclays and Leerink Swann acted as joint bookrunning managers for the offering, alongside Stifel and Piper Jaffray as co-managers.

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