Molecular Insight Raises $70 Million

Molecular Insight Pharmaceuticals Inc., a Cambridge, Mass.-based developer of molecular imaging pharmaceuticals and targeted radio-therapeutics, priced five million common shares at $14 per share ($14-$16 range), for an IPO take of approximately $70 million. It will trade on the Nasdaq under ticker symbol MIPI, while RBC Capital Markets and Jefferies & Co. served as co-lead underwriters. The company has raised over $35 million in VC funding from firms like Cerberus Capital Management and Siemens Venture Capital. The IPO gives it an initial market cap of around $345 million. www.molecularinsight.com