Cynapsus Therapeutics, which is developing a sublingual film for the OFF episodes of Parkinson's disease, filed on Friday with the SEC to raise up to $60 million in an initial public offering.
Cynapsus currently trades on the Toronto Stock Exchange under the symbol CTH and commands a market value of about $125 million.
It is the second internationally-traded biotech targeting the OFF episodes of Parkinson's disease to file this week after Biotie Therapies (BITI).
Civitas Therapeutics (CVTS), which is developing an inhaled version of levodopa for OFF episodes, had planned to go public in September 2014 before announcing that it would be acquired by Acorda Therapeutics for $525 million.
The Toronto, Canada-based company, which was founded in 2004, plans to list on the NASDAQ under the symbol CYNA. BofA Merrill Lynch is the sole bookrunner on the deal. No pricing terms were disclosed.
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