Phenomix Files for IPO

Phenomix Corp., a San Diego-based drug developer, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol PHMX, with Morgan Stanley and Credit Suisse serving as co-lead underwriters. Phenomix has now raised around $125 million in total VC funding since its 2001 founding, including a $55 million Series C round last year.


Backers include JPMorgan Partners (18% pre-IPO stake), Nomura Phase4 Ventures (15.8%), Delphi Ventures (11.1%), Alta Partners (9.8%), Sofinnova Ventures (9.8%), Novartis BioVenture Fund  (9.1%), Baker Brothers (7.6%), Bay City Capital (6.5%), CMEA Ventures (5.8%) and GBS Venture Partners.


The company’s most advanced programs include a Phase II inhibitor of the protease DPP4 for treatment of Type 2 diabetes, and a preclinical program inhibiting NS3 protease for treatment of hepatitis