Biotech EyeGate Pharmaceuticals files for a $29 million IPO

EyeGate Pharmaceuticals, a late-stage biotech developing a therapy for eye inflammation, filed on Wednesday with the SEC to raise up to $29 million in an initial public offering. The company has completed a Phase 3 trial for its combined inflammation treatment and novel delivery system.

Two eye-related biotechs went public last week (PFNX and OCUL) and now trade below their IPO prices after pricing below the range. Another eye biotech IPO, Avalanche Biotechnologies (AAVL), increased its range and is expected to price Wednesday night.

The Waltham, MA-based company, which was founded in 2004, plans to list on the NASDAQ under the symbol EYEG. EyeGate Pharmaceuticals initially filed confidentially on May 14, 2014. Aegis Capital is the sole bookrunner on the deal. No pricing terms were disclosed.