Novartis-backed Ionis subsidiary Akcea maps a $100M IPO as it steers a lead drug to regulators
Over the last three months Ionis subsidiary Akcea has executed a $1.65 billion partnership with Novartis on two of its four drugs and mapped a path to regulators on both sides of the Atlantic after its lead therapy volanesorsen successfully completed a Phase III study. And now Akcea — a specialist in lipid disorders — is shooting for a $100 million IPO, with Novartis coming in to support the move with an extra $50 million to purchase a growing equity stake.
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