Bay Area’s first 2018 IPO could come from Redwood City

in Business/Community

The Bay Area’s first initial public offering of the New Year could come from a Redwood City biopharma company, according to the Silicon Valley Business Journal.

Menlo Therapeutics Inc., located at 200 Cardinal Way, has filed to raise up to about $98 million, the Business Journal stated.

The company started in 2011, develops treatments for itchy skin disorders and aims to clear three treatments through government regulators by 2020, according to the report.

“There were only two health-related IPOs from the region in 2017,” the article stated. “South San Francisco-based Denali Therapeutics Inc. raised $229 million earlier this month and San Jose-based Restoration Robotics raised $25 million in mid-October.”

For more details, read the Busines Journal report here.