Rosetta Genomics files for $44.85 million IPO

By Jennifer Chiou

New York, Sept. 1 - Rosetta Genomics Ltd. filed for an estimated $44.85 million initial public offering of stock in an F-1 registration with the Securities and Exchange Commission.

C.E. Unterberg, Towbin is bookrunner and Oppenheimer & Co. and Maxim Group LLC are co-managers.

The Rehovot, Israel, biopharmaceutical company develops microRNA-based therapeutic and diagnostic agents with a focus on cancer and infectious diseases.

According to the filing, microRNAs are naturally produced using instructions encoded in DNA and are believed to play an important role in regulating protein production and the company said it

IPO proceeds will be used to fund research and development as well as licensing and protection of intellectual property rights and general corporate purposes.

Rosetta Genomics said it had a $5.183 million operating loss on no revenues for 2005, compared with an operating loss of $2.984 million on no revenues for the same period in 2004.

Currently founder Isaac Bentwich is the largest shareholder with 21% of the equity followed by Kadima Hi-Tech Ltd. at 17%, Harmony 2000 at 6.1% and Instanz Nominees Pty Ltd. with 4.6%.

The company has applied to list its stock on the Nasdaq National Market under the symbol "ROSG."

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