SAN DIEGO, Feb. 27, 2014 (GLOBE NEWSWIRE) -- Celladon Corporation (Nasdaq:CLDN), a clinical-stage biotechnology company focused on developing novel therapies by applying its leadership position in the field of SERCA enzymes, announced today the full exercise and closing of the underwriters' option to purchase 825,000 additional shares of common stock in connection with Celladon's previously announced initial public offering of 5,500,000 shares of common stock, at a price to the public of $8.00 per share, bringing the total gross proceeds from the offering to $50.6 million before deducting underwriting discounts and commissions and other offering expenses payable by Celladon. All shares in the offering were sold by Celladon. Celladon's common stock began trading on The NASDAQ Global Market on January 30, 2014 under the symbol "CLDN."
Barclays acted as the sole book-running manager for the offering. Stifel and Wedbush PacGrow Life Sciences acted as co-managers.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on January 29, 2014. The offering was made by means of a prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained from: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by calling toll free (888) 603-5847, or emailing firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
We are a clinical-stage biotechnology company applying our leadership position in the field of calcium dysregulation by targeting SERCA enzymes to develop novel therapies for diseases with tremendous unmet medical needs. Sarco/endoplasmic reticulum Ca2+-ATPase, or SERCA, enzymes are a family of enzymes that play an integral part in the regulation of intra-cellular calcium in all human cells. Calcium dysregulation is implicated in a number of important and complex medical conditions and diseases, such as heart failure, which is a clinical syndrome characterized by poor heart function, resulting in inadequate blood flow to meet the body's metabolic needs, as well as diabetes and neurodegenerative diseases. Our therapeutic portfolio for diseases characterized by SERCA enzyme deficiency includes both gene therapies and small molecule compounds. MYDICAR, our most advanced product candidate, uses gene therapy to target SERCA2a, which is an enzyme that becomes deficient in patients with heart failure. In addition, we have identified a number of potential first-in-class compounds addressing novel targets in diabetes and neurodegenerative diseases with our small molecule platform of SERCA2b modulators.
CONTACT: Fredrik Wiklund
Vice President, Corporate Development and Investor Relations
Source: Celladon Corporation