Molecular Insight Pharmaceuticals, Inc. Files Registration Statement For Proposed Initial Public Offering
Cambridge, MA, November 8, 2005 – Molecular Insight Pharmaceuticals, Inc. today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of its common stock. All shares of the common stock to be sold in the offering will be offered by the company.
Piper Jaffray & Co. and SG Cowen & Co., LLC are acting as joint book-running managers for the offering. In addition, Oppenheimer & Co. Inc. and Roth Capital Partners LLC are acting as co-managers. The number of shares to be offered and the price range for the offering have not yet been determined.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such as offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering will be made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Piper Jaffray & Co., U.S. Bancorp Center, 800 Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402 (telephone number (612) 303-6220) or from SG Cowen & Co., LLC, Prospectus Department at ADP, 1155 Long Island, Edgewood, New York 11717 (telephone number (631) 254- 7106).
About Molecular Insight Pharmaceuticals, Inc.
Molecular Insight Pharmaceuticals is focused on becoming a leader in the rapidly emerging field of molecular medicine through the development and commercialization of innovative pharmaceuticals that utilize highly specific targeting technologies designed to meaningfully improve patient diagnosis, treatment and management. The company is leveraging synergies in functional molecular imaging and targeted radiotherapeutics to create a new model for integrated healthcare. Molecular Insight’s lead product candidate, Zemiva™ (iodofiltic acid I123), has completed Phase 2b clinical development for use in triaging emergency room patients with suspected acute coronary syndrome, a situation that results in over six million emergency room visits annually in the United States. The company’s first radiotherapeutic candidate, Ultratrace™ MIBG (MIP-120T), for the evaluation and treatment of neuroendocrine tumors, is in late preclinical development. Molecular Insight’s pipeline leverages proprietary technologies for targeting, visualizing, treating, and monitoring disease in cardiology, oncology and neurology. Molecular Insight Pharmaceuticals is based in Cambridge, Massachusetts. The company’s website is: www.molecularinsight.com.
Contact:
Priscilla Harlan
Vice President, Corporate Communications
Molecular Insight Pharmaceuticals, Inc.
(617) 492-5554