Wednesday, March 12, 2014

Domain Associates, Versant Get Another IPO Exit

Two, Southern California venture investors have scored another paired exit today, after South San Francisco-based Achaogen debuted on the NASDAQ Global Market as AKAO. Both Domain Associates and Versant Ventures had an exit via another, biotech IPO-->of molecular diagnostic maker Veracyte--just six months ago. Achaogen was trading around $14.17 this afternoon, after debuting at $12.00 per share. Achaogen had set an initial IPO pricing range earlier of $10.00 to $12.00 per share. Domain Associates owned 18.7% of Achaogen before the IPO, and Versant Ventures had around 11.9% of the company. Other investors include Venrock, The Wellcome Trust, Arch Ventures Partners, Omega Fund, and 5AM Ventures.