Last week proved to be a winning one for not one but two Polaris companies that completed successful initial public offerings (IPOs) and began trading on the NASDAQ stock exchange. We couldn’t be more pleased to congratulate the teams at Acceleron and BIND Therapeutics who have been part of the Polaris family since 2003 and 2006 respectively. Well done!
Here’s a recap of the companies and their offerings:
Committed to developing novel proteins for orphan drugs and cancer, Acceleron (NASDAQ: XLRN) was co-founded in 2003 by Dr. John Knopf who today serves as President and CEO. We made our first investment that year out of Polaris Fund IV (PVP IV) and for the better part of the last decade Terry McGuire has served on the company’s Board of Directors. Over the last decade prior to the IPO, Polaris has been Acceleron’s largest shareholder, supporting the company through multiple milestones and impressive growth.
XLRN At A Glance:
IPO Date: September 18, 2013
Per Share: $15
Shares Sold at IPO: 5.58 million
Estimated market capitalization: $500 million+
Read more at:
Acceleron Press Release
In 2006, Polaris General Partner Amir Nashat first invested in BIND Therapeutics (NASDAQ: BIND) out of Polaris Fund V (PVP V), backing co-founders Bob Langer and Omid Farokhzad. Amir joined the Board that year, supporting the team which was developing nanoparticle therapeutics for its lead product for the treatment of cancer. Under the direction of President and CEO Scott Minick, BIND has completed Phase I trials and is currently in Phase II for its cancer program while developing a robust pipeline of additional programs.
BIND At A Glance:
Both Acceleron and BIND are prime examples of “doing well by doing good.” These IPOs not only represent favorable outcomes for the Polaris funds but also proceeds from these offerings provides capital which will allow both companies to continue their important work in improving and saving lives.
The last two years have been incredible ones for Polaris healthcare companies with sales or IPOs that include BIND, Acceleron, Receptos, Avila, deCode, Ascend and Bridgepoint. We feel extremely fortunate to have played a part in supporting these great teams and their efforts to help countless patients around the world.