This release has been updated to correct the expected start date of the
first pivotal trial for PRX302 to "in the first half of 2013."
SAND DIEGO and VANCOUVER, Feb. 18, 2013 /CNW/ - Sophiris Bio Inc.
(Sophiris, TSX: SHS) ("Sophiris" or the "Company"), a biopharmaceutical company developing a treatment for benign
prostatic hyperplasia (BPH or enlarged prostate), previously announced
on February 15, 2013 that it has filed a registration statement on Form
S-1 with the U.S. Securities and Exchange Commission (SEC) relating to
a proposed initial U.S. public offering of its common shares on the
NASDAQ stock market. The Company has also filed a preliminary short
form prospectus with the securities regulatory authorities in British
Columbia and Ontario in connection with the proposed offering. All
common shares to be sold in the offering will be offered by Sophiris.
The number of shares to be offered and the price range for the offering
have not yet been determined.
Citigroup and Leerink Swann are acting as joint book-running managers
for the offering. Stifel and Lazard Capital Markets are acting as
co-managers. The offering will be made only by means of a prospectus.
When available, copies of the preliminary prospectus relating to and
describing the terms of the offering may be obtained from Citigroup
Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York 11717, or by email at email@example.com or by phone at 1-800-831-9146, and Leerink Swann LLC (excluding the
Canadian preliminary prospectus), Attention: Syndicate Department, One
Federal Street, 37th Floor, Boston, Massachusetts 02110, or by email at
Syndicate@Leerink.com or by phone at 1-800-808-7525.
A registration statement relating to these securities has been filed
with the SEC, 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 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
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.
Sophiris Bio Inc. is a biopharmaceutical company developing a treatment
for benign prostatic hyperplasia (BPH or enlarged prostate), which it
believes is an unsatisfied market with significant market potential.
PRX302, the Company's lead candidate for BPH, is designed to be as
efficacious as pharmaceuticals, less invasive than the surgical
interventions, and without the sexual side effects experienced with
existing treatments. Sophiris is planning to begin the first of two
pivotal clinical trials of PRX302 in the first half of 2013.
Certain statements included in this press release may be considered
forward-looking. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from those
implied by such statements, and therefore these statements should not
be read as guarantees of future performance or results. All
forward-looking statements are based on Sophiris' current beliefs as
well as assumptions made by and information currently available to
Sophiris and relate to, among other things, regulatory approval and
marketing of the offering, anticipated financial performance, business
prospects, strategies, regulatory developments, market acceptance and
future commitments. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date of
this press release. Due to risks and uncertainties, including the risks
and uncertainties identified by Sophiris in its public securities
filings; actual events may differ materially from current expectations.
Sophiris disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE: Sophiris Bio, Inc.
For further information:
The Trout Group
Jason I. Spark
Canale Communications, Inc.