15 Feb Ann Arbor firm with UW drug tech goes public
QuatRx Pharmaceuticals Co., a pharmaceutical firm in Ann Arbor, Michigan, that licensed some of University of Wisconsin-Madison professor Hector DeLuca’s technology in 2002, has filed for an IPO.
One of the company’s five products is a treatment for psoriasis, a skin disease, based on DeLuca’s work at UW-Madison and Deltanoid Pharmaceuticals. It is licensed through the Wisconsin Alumni Association.
Though company officials can’t comment publicly leading up to the IPO, a company statement said they hope to raise $86 million to supplement $72 million in venture capital since 2000. The company said it would use the money to fund clinical trials so that it can move toward commercializing its products.