CELG Celgene Corporation

By Christopher Zinsli 

Centrexion Therapeutics Corp., a pain treatment developer founded by the former leaders of Pfizer Inc. and Celgene Corp., on Friday disclosed plans to go public.

The Boston-based company said the proceeds from its planned initial public offering would fund clinical trials of a series of product candidates. The company's most advanced candidate is a potential treatment for knee pain.

Centrexion said it had an accumulated deficit of $125.7 million as of Sept. 30.

Former Pfizer Chief Executive Jeffrey Kindler is CEO of Centrexion, and former Celgene Corp. Chief Executive Sol Barer is the company's chairman.

Centrexion in January announced a $67 million Series D funding round. New Enterprise Associates led that round and is a significant shareholder, according to the company's IPO prospectus. Other significant owners include InterWest Partners and Quan Capital.

The company intends to secure a listing on the Nasdaq under the symbol CNTX. BofA Merrill Lynch, Leerink Partners and Evercore ISI are leading the offering.

(END) Dow Jones Newswires

October 19, 2018 18:48 ET (22:48 GMT)

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