VC-backed Aquinox Pharmaceuticals files for $58 mln IPO - report
Aquinox Pharmaceuticals Inc, a clinical-stage company focused on developing novel and targeted small molecule therapeutics for the treatment of inflammatory disease, has filed for an initial public offering (IPO). The report came from investment advisory firm Renaissance Capital, which said the Vancouver-based company filed with the Securities and Exchange Commission to raise an IPO on NASDAQ under the symbol AQXP. The company aims to generate proceeds of up to US$58 million. Founded in 2004, Aquinox has been primarily backed by a mix of Canadian and U.S.-based venture capital firms, including BC Advantage Funds VCC, Baker Brothers Investments, Pfizer Venture Investments and Ventures West Capital. In Apr. 2013, Aquinox secured a US$18 million Series C financing led by Johnson & Johnson Development Corp. New investor Augment Investments participated in the round along with existing investors.
