Archemix Sets IPO Terms

Archemix Corp., a Cambridge, Mass.-based biopharma company focused on developing aptamer therapeutics, has set its IPO terms to 4.5 million common shares being offered at between $12 and $14 per share. It would have an initial market cap of over $261 million, were it to price at the high end of its range. This is virtually identical to Achemix's valuation at the end of its most recent venture capital round. The company plans to trade on the Nasdaq under ticker symbol ARCH, with Banc of America Securities and Bear Stearns serving as co-lead underwriters.

Archemix has raised around $135 million in VC funding since 2001, from firms like Atlas Venture (13.9% pre-IPO stake), Prospect Venture Partners (13.9%), Highland Capital Parnters (13.2%), SV Life Sciences (11.6%), KGaA (11.3%), Rho Ventures (9.6%) and Care Capital (5.3%).