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Former TECH Fort Worth client raises $107M in IPO

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ZS Pharma Inc., a biopharmaceutical company developing novel treatments for kidney, cardiovascular, liver and metabolic disorders, raised nearly $107 million on the NASDAQ capital market from its initial public offering on June 18. ZS Pharma, a Texas Emerging Technology Fund awardee based in Coppell, also granted the underwriters a 30-day option to purchase up to an additional 891,667 shares of common stock at the IPO price, less underwriting discounts and commissions. The offering is expected to close on or about June 23, subject to customary closing conditions.

ZS Pharma received a $2 million TETF award in 2010 for its development of an orally available sorbent product, ZS-9, which was designed to remove excess potassium from the blood and maintain normal potassium levels. This technology could potentially be used to treat hyperkalemia, a condition that can lead to irregular heartbeat and sudden cardiac death. ZS Pharma was a client of TECH Fort Worth. J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC acted as joint book-running managers for the IPO. BMO Capital Markets Corp. is lead manager and William Blair & Co. LLC is co-manager. ZS Pharma Inc. is traded under the symbol ZSPH.

Betty Dillard bdillard@bizpress.net

 

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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