Akcea Therapeutics, a spinout and subsidiary of Carlsbad drugmaker Ionis Pharmaceuticals, plans to raise $100 million in an initial public offering, the company announced Tuesday.
Akcea, based in Boston, has a pipeline of four novel drugs it is developing based off of Ionis’ “antisense” technology. The treatments are primarily to treat cholesterol-caused heart disease.
Akcea is offering 9,620,000 shares of common stock and the underwriters will have a 30-day option to purchase up to an additional 1,443,000 shares of common stock. The IPO price is currently expected to be between $12 and $14 per share.
Akcea has applied to list the shares on the Nasdaq under the symbol AKCA.