VC-backed Relypsa lowers IPO price range – Fortune

According to Fortune, Relypsa has decreased its IPO price range from $16-$19 per share to $12 per share. The publication reported that the company still intends on selling 6.85 million shares. Relypsa will trade its stock on the NASDAQ under the ticker symbol “RLYP.” Morgan Stanley and Bank of America Merrill Lynch are acting as lead underwriters. Based in Redwood City, Relypsa is a provider of non-absorbed polymeric drugs. It is backed by OrbiMed Advisors, 5AM Ventures, Delphi Ventures, New Leaf Ventures, Sprout Capital and Sibling Capital.