Biodel Sets IPO Terms

Biodel Inc., a Danbury, Conn.-based drug improvement company focused on endocrine disorders like diabetes and osteoporosis, set its proposed IPO terms to five million common shares being offered at between $14 and $16 per share. It also added Morgan Stanley as a co-lead underwriter, alongside Banc of America Securities. 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%).