BOSTON, May 3, 2006 — Labopharm, Inc., a specialty pharmaceutical company, today announced the completion of its U.S. IPO and listing on NASDAQ (symbol: DDSS). The offering, which consisted of approximately 12.6 million common shares and included the exercise in full of the underwriters' over-allotment option, raised over US$93 million for the company. Merrill Lynch and Banc of America Securities acted as joint book running managers.
Labopharm, based in Montreal and already public on the Toronto Stock Exchange, focuses on developing drugs using Contramid®, its proprietary advanced controlled-release technology. The company's lead product is a once-daily formulation of the pain reliever Tramadol. The product has received regulatory approval and has been launched in Europe. In the United States, Labopharm has filed with the FDA seeking marketing approval.
The Goodwin Procter team included Corporate partner Larry Wittenberg and associates Michael Bison, Matthew Rowe and Jonathan Ohlsson, together with Intellectual Property partner Duncan Greenhalgh, counsel Nicholas Triano and associates Theresa Kavanaugh and Randall Morin, and Tax partner William Whitledge.