Pharmasset Sets IPO Terms

Pharmasset Ltd., a Tucker, Ga.-based drug company focused on viral diseases, has set its proposed IPO terms to six million common shares at between $12 and $14 per share. It plans to trade on the Nasdaq under ticker symbol VRUS, with Banc of America securities and UBS serving as co-lead underwriters. The company has raised $55.3 million in VC funding since its 1998 inception, from firms like MPM Capital (25.6% pre-IPO stake), TVM Capital (11.7%), Burrill & Co. (11.1%) and MDS Capital (8.1%).