Friday, May 11, 2012

OncoMed files for $115 million IPO

OncoMed Pharmaceuticals Inc. is seeking $115 million in an initial public stock offering, the company said Friday. The Redwood City-based cancer drug developer, one of the most successful Bay Area biotech companies at raising venture capital over the past five years, said it will use proceeds of the IPO to advance its lead drug -- demcizumab, or OMP-21M18 -- and two other drugs into Phase II clinical trials and for programs with partners GlaxoSmithKline and Bayer AG.

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