OncoMed will price 4.8 million-share IPO between $14.00 and $16.00

Deal funds clinical expenditures, research, drug discovery activities

By Devika Patel

Knoxville, Tenn., July 17 - OncoMed Pharmaceuticals, Inc. will price an initial public offering of 4.8 million common shares with a greenshoe option, according to a Form S-1 filed Wednesday with the Securities and Exchange Commission.

The company will sell the shares at a price expected to be between $14.00 and $16.00 per share. There are an additional 720,000 shares allotted for the greenshoe.

Jefferies and Leerink Swann are the joint bookrunning managers, and Piper Jaffray and BMO Capital Markets are the co-managers.

Proceeds will be used for clinical expenditures to advance demcizumab through phase 2 clinical trials, clinical and manufacturing expenditures to advance a bispecific antibody through phase 2 clinical trials, clinical and manufacturing expenditures to advance an antibody targeting the RSPO/LGR pathway through phase 1 clinical trials, research and drug discovery activities, working capital and general corporate expenditures.

The biopharmaceutical company is based in Redwood City, Calif. The company expects its shares will trade on the Nasdaq under the symbol "OMED."

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