Friday, March 30, 2007

NovaCardia Files For IPO

San Diego-based NovaCardia has filed for an IPO, saying last night in a filing with the SEC that it is looking to raise up to $86.25M in an IPO on the NASDAQ Global Market. The IPO is being underwritten by JPMorgan, Credit Suisse, Pacific Growth Equities, and First Albany Capital. Novacardia is developing biopharmaceuticals for the treatment of major cardiovascular diseases. The firm is backed by Domain Associaties, Forward Ventures, InterWest Partners, Montreux Equity Partners, Skyline Venture Partners, and Versant Venture Capital.