Biodel Prices IPO

Biodel Inc., a Danbury, Conn.-based drug improvement company focused on endocrine disorders like diabetes and osteoporosis, priced five million common shares at $15 per share ($14-$16 range), for an IPO take of approximately $75 million. It will trade on the Nasdaq under ticker symbol BIOD, while Morgan Stanley and Banc of America Securities served as co-lead underwriters. The company raised $21 million in Series B funding last summer, and lists shareholders like Great Point Partners (17.4% pre-IPO stake), OrbiMed Advisors (17.4%) and Vivo Ventures (15%).