Clemen­tia keeps the biotech IPO par­ty go­ing with $120M play on an up­sized of­fer­ing

David Mott, the pro­lif­ic New En­ter­prise As­so­ciates gen­er­al part­ner, has an­oth­er suc­cess­ful IPO un­der his belt for an­oth­er one of his port­fo­lio com­pa­nies.

Que­bec-based Clemen­tia Phar­ma­ceu­ti­cals $CM­TA, which picked up a failed drug from Roche and re­pur­posed it for a pair of ul­tra-rare dis­eases, raised $120 mil­lion to­day af­ter pric­ing 8 mil­lion shares at $15.

That rings the bell at the top of the range with an up­sized of­fer­ing, just the lat­est in­di­ca­tor that the IPO win­dow re­mains open for the right biotechs.

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