Intarcia inches closer to IPO with $215M Series EE
September 16, 2016
Intarcia Therapeutics is a biopharma that has completed Phase 3 development for its lead product candidate, a treatment for Type 2 diabetes. The company expects to file for regulatory approval of the drug in the US later this year, which would trigger a $100 million payment from a larger $300 million royalty contract inked in 2015, according to Fortune.
Now flush with cash, the company doesn't expect to IPO until 2018, per Fortune, despite the trend of biopharmas going public before taking their lead product candidates into Phase 3. Intarcia apparently wants to take its diabetes treatment to market before making its own move to the market. A total of 18 US VC-backed pharma & biotech companies have gone public this year, according to the PitchBook Platform.