PE-Backed Biotech Co. Egalet Prepares $69M IPO

Law360, New York (October 17, 2013, 6:25 PM ET) -- Venture capital-backed specialty biotechnology company Egalet Corp., which is based in the U.S. but has the bulk of its operations in Denmark, plans to raise up to $69 million in an initial public offering, according to a regulatory filing made public Wednesday.

Egalet is developing an abuse-resistant method to deliver pain-relieving drugs such as morphine orally. The company has completed multiple rounds of venture financing and counts Atlas Venture, Switzerland's Index Ventures and Norway's Sunstone Capital among its backers.

"Prescription medications, particularly opioids, are prone to...
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