BRIEF—Acacia IPO seeks to pay for Baremsis launch

Acacia Pharma (Euronext: ACPH) announced on Friday that it had priced its initial public offering (IPO) on the Brussels stock exchange, with the aim of raising 40 million euros ($49 million).

Based on the offer price, the total market capitalization of the company at the commencement of conditional dealings will be approximately 190 million euros.

Despite being based in the UK, Acacia is a US hospital-focused pharmaceutical business initially focussed on commercializing its lead product, Baremsis, for the rescue treatment of patients with post-operative nausea and vomiting.

The New Drug Application for Baremsis is under review by the US Food and Drug Administration following four positive Phase III trials.

Julian Gilbert, chief executive and founder of Acacia Pharma, said: “The new funds will be used to build the sales and marketing infrastructure and undertake marketing, supply chain and other preparatory activities to launch Baremsis to the US hospital market in 2019, assuming US regulatory approval late 2018.”

The company also intends to continue the development of APD403 for chemotherapy-induced nausea and vomiting.