Friday, April 29, 2005

SkinMedica Files for IPO

San Diego-based SkinMedica has filed for an $86M IPO, underwritten by SG Cowen & Co., Piper Jaffray, Thomas Weisel Partners, and C.E.Unterberg, Towbin. The venture funded company is developing and commercializing prescription pharmaceutical products for skin conditions, as well as non-prescription cosmaceuticals. SkinMedica reported a net loss of $14M on revenues of $22M in 2004. The company is funded by Apax Partners, Domain Associates, EuclidSR Partners, HealthCare Ventures, Montreux Equity Partners, Perseus-Soros BioPharmaceutical Fund, Split Rock Partners, and St. Paul Venture Capital.