Artes Medical files for $75 million IPO

By Jennifer Chiou

New York, May 12 - Artes Medical, Inc. filed for an estimated $75 million initial public offering of stock in an S-1 registration with the Securities and Exchange Commission.

Cowen & Co. and Lazard Capital Markets are the joint bookrunning managers and Stifel Nicolaus is co-manager.

The San Diego, Calif.-based medical technology company develops and manufactures injectable aesthetic products for dermatology and plastic surgery markets.

The company's initial product candidate is ArteFill, which is a permanent aesthetic micro-injectable product under review by the FDA for the correction of facial wrinkles or nasolabial folds. Artes Medical received an approvable letter for the product in January 2004.

IPO proceeds will be used for sales and marketing for ArteFill, the growth of the company's manufacturing capabilities and clinical studies for its products as well as general corporate purposes.

Artes Medical said it had a $20.326 million operating loss for 2005, compared with an operating loss of $12.385 million for the same period in 2004.

Currently Stefan M. Lemperle is the company's principal shareholder with 8% of the company's stock, followed by Gottfried H. Lemperle with 3.8%, Christopher J Reinhard with 2.2% and Daren J. Barone with 1.3%.

The company plans to apply to list its stock on the Nasdaq National Market under the symbol "ARTE."

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