Venture-backed Flexion Therapeutics has filed to raise up to $86.25 million in an IPO. The company is looking to list on the NASDAQ under the symbol FLXN. Flexion is developing and commercializing a line of injectable pain therapies (namely anti-inflammatory and analgesic therapies) that target musculoskeletal conditions like osteoarthritis.
Company shareholders include Versant Ventures (29.76% pre-IPO stake), Sofinnova Ventures (19.25%), 5AM Ventures (15.52%), Novo A/S (11.2%) and Pfizer (17.32%). Novo led the company's last fundraising round, a $20 million Series B investment in late 2012 that valued the company at about $99.5 million.