Valeritas yesterday registered for an initial public offering worth up to $90 million for its V-Go insulin delivery system.
Bridgewater, N.J.-based Valeritas said it plans to list on the NASDAQ exchange under the "VLRX" symbol.
The V-Go system is a fully disposable continuous-delivery insulin system that’s designed to function for 24 hours based on a preset rate, with on-demand dosing for meal times.
"V-Go enables patients to closely mimic the body’s normal physiologic pattern of insulin delivery by releasing a single type of insulin at a continuous preset background, or basal, rate over a 24-hour period and on demand around mealtime, or bolus dosing. The basal-bolus insulin regimen provided by V-Go enables patients to manage their diabetes with insulin, but without the need to plan their daily routine around multiple daily injections," the company said in a regulatory filing.
Piper Jaffray, Leerink Partners and Oppenheimer are the joint bookrunners on the flotation, which hasn’t yet been priced, according to the filing.