Hyperion Therapeutics seeks $57.5 million from rare biotech IPO

Hyperion Therapeutics Inc., a South San Francisco biotech company developing drugs against metabolic disorders, will seek $57.5 million in an initial public offering.
Hyperion’s filing Friday with the Securities and Exchange Commission is significant because biotech IPOs have been far and few between, especially in the Bay Area, over the past four years.
Hyperion, led by CEO Don Santel, said it would use the net proceeds to fund clinical development, win regulatory approval and launch Ravicti, its experimental treatment for urea cycle disorders and hepatic encephalopathy.
It also plans to use the money to repay up to $22 million of a potential loan from Ucyclyd Pharma Inc., a subsidiary of Medicis Pharmaceutical Corp. (NASDAQ: MRX), over eight quarters, make milestone, royalty and license payments to Ucyclyd and Brusilow Enterprises LLC, and for general corporate purposes.

Glaucoma drug developer Altheos adds $12.5M to Series A round

Altheos Inc. raised an additional $12.5 million — pushing its Series A round to a total of $32.5 million — as the South San Francisco company enters a mid-stage study of a glaucoma drug.

Dermira raises $42M for dermatology work, buys Valocor

Dermira Inc. said Thursday it has raised $42 million in Series A funding.
The Redwood City-based company plans to use the funds for acquisition, development and commercializing dermatology-related therapeutics.
Its investors include Bay City Capital LLC, New Enterprise Associates and Canaan Partners.