Orexigen Sets IPO Terms

Orexigen Therapeutics Inc., a San Diego-based neuroscience company focused on the treatment of obesity, has set its proposed IPO terms to six million common shares being offered at between $11 and $13 per share. It plans to trade on the Nasdaq under ticker symbol OREX, with Merrill Lynch and JPMorgan serving as co-lead underwriters. The company has raised around $76 million in total VC funding from firms like Domain Associates (21.3% pre-IPO stake), Kleiner Perkins (20%), Sofinnova Ventures (15%), Scale Venture Partners (14.8%), Montreaux Equity Partners (7.4%), Morgenthaler Partners (5.9%), MPM BioEquities and Wasatch Advisors. www.orexigen.com