Pfenex Seeks $75M IPO Just in Time for Biotech Boom

Pfenex, a San Diego, CA-based biotech, filed last week with the SEC to raise up to $75 million in an initial public offering.

Pfenex, which was spun out of Dow Chemical in 2009, is looking to capitalize on the emerging biosimilar market as a large number of blockbuster biologic products lose patent protection in coming years and the demand for lower drug costs increases.

The company's most promising candidate is an alternative to Roche's Lucentis treatment for wet AMD.

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