Opti­Nose joins the biotech IPO fi­es­ta, rais­es $120M in up­sized of­fer­ing

A month af­ter bag­ging an FDA ap­proval of its drug/de­vice for nasal polyps, Opti­Nose has tak­en ad­van­tage of a red-hot biotech IPO mar­ket to raise $120 mil­lion in an up­sized of­fer­ing.

The Yard­ley, PA-based biotech’s S-1 ex­plains that it will use the cash to launch its new prod­uct in­to the ENT mar­ket, with plans to hire a 75-mem­ber spe­cial­ty sales force to go af­ter a tar­get group of 15,000 doc­tors. And it will now go af­ter a broad­er mar­ket, with tri­als planned for rhi­nos­i­nusi­tis. It will list on Nas­daq as $OPTN.

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