San Diego’s stealthy Odonate sur­faces with $173M IPO

Ap­par­ent­ly the IPO win­dow re­mains wide open. Short­ly fol­low­ing news of De­nali’s $100 mil­lion IPO plans, a small and rather qui­et biotech in San Diego named Odonate Ther­a­peu­tics filed pa­per­work with the SEC sig­nal­ing plans to raise $173 mil­lion.

Al­though fly­ing un­der the radar, Odonate has ap­par­ent­ly been busy build­ing up its staff. The com­pa­ny em­ploys 44 peo­ple and is led by chair­man and CEO Kevin Tang, the guy who co-found­ed San Diego’s Ardea Bio­sciences back in 2006 and lat­er sold it to As­traZeneca for $1.26 bil­lion.

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