Theravance files for IPO

Small molecule discovery and development play Theravance (South San Francisco, Calif.) proposed to raise up to $96 million in an IPO through Merrill Lynch; Lehman; CSFB; Perseus Group; and Thomas Weisel. The company's clinical compounds include two long-acting adrenergic receptor beta 2 agonists (LABAs) that have completed Phase IIa testing for asthma; telavancin, an injectable antibiotic that has completed a Phase II trial for complicated skin and skin structure infections (SSSIs); and TD-6301, which is in Phase I testing for overactive bladder. ...