ChemoCentryx aims to price $12 million private placement, IPO of stock

Investors Glaxo Group, Techne will participate in private offering

By Devika Patel

Knoxville, Tenn., Oct. 14 - ChemoCentryx, Inc. will price a $12 million private placement of stock and an initial public offering of common stock, according to a Form S-1 filed Friday with the Securities and Exchange Commission. The company expects its shares will trade on the Nasdaq under the symbol "CCXI."

In the private placement, Glaxo Group Ltd. will invest $7 million and Techne Corp. will invest $5 million at the same price per share as the shares sold in the public offering.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Cowen and Co., LLC are the underwriters for the public sale. JPMorgan and Citigroup are the bookrunners.

Proceeds will be used to continue developing the company's lead drug candidate, to advance other drug candidates to clinical development, for research and development of additional drug candidates and for working capital and general corporate purposes.

The drug developer is based in Mountain View, Calif.

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