Wednesday, October 18, 2006

Trubion Raises $52M in IPO

Seattle-based Trubion Pharmaceuticals raised $52M on its IPO on the Nasdaq today. Trubion, which is listed as TRBN, offered 4,000,000 shares of its common stock at $13.00 per share. The IPO was underwritten by Morgan Stanley & Co., Banc of America Securities, Pacific Growth Equities, and Lazard Capital Markets. Trubion is developing biopharmaceuticals targeted at autoimmune disease and cancer.