| Circe Biomedical, Inc. | |||
| Proposed Ticker: | CRCE | One Ledgemont Center 128 Spring Street | |
| Exchange: | NASDAQ-National Market | Lexington, MA 02173 | |
| Industry: | Service (SIC Code 8731) | (617) 863-8720 | |
| Type of Shares: | Class A Common Shares | Filing Date: | 6/20/97 | |
| U.S. Shares Filed: | 2,500,000 | Filing Range: | $11.00 - $13.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $30,000,000 | |
| Primary Shares: | 2,500,000 | Expenses: | $900,000 | |
| Secondary Shares: | 0 | Shares Out After: | 7,206,000 | |
| Spin out parent firm: | W.R. Grace | |||
| Manager | Tier | Phone |
| UBS Securities Inc. | Lead Manager | (212) 821-4510 |
| Montgomery Securities | Co-manager | (415) 627-2100 |
| Issuer's Law Firm: | Mintz, Levin, Cohn, Ferris, Glovsky And Popeo |
| Bank's Law Firm: | Hale and Dorr |
| Registrar/Transfer Agent: | State Street Bank and Trust Company |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 3/31/97 | 3/31/96 | 3/31/97 | ||
| Revenue: | $7.13 | $1.73 | $1.41 | Assets: | $1.59 |
| Net Income: | -$11.18 | -$2.95 | -$2.28 | Curr Assets: | |
| EPS: | -$2.43 | -$0.64 | -$0.50 | Liabilities: | $1.61 |
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | -$0.03 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is engaged in the development, production and commercialization of novel bioarticicial organs. The company's lead product in development, the HepatAssist Liver Assist System, is an extracorporeal, bioartificial liver incorporating procine hepatocytes, and is designed to treat acute and chronic liver failure by temporarily providing essential liver functions. The company believes that the Hepat Assist System is the most clinically advanced bioartificial liver in the world. The company has completed a Phase I/II clinical trial of the HepatAssist System an has submitted to the United States Food and Drug Administration a proposed protocol for a Phase II/III clinical trial that it expects to begin as early as the third quarter of 1997, subject to FDA approval. The company's PancreAssist Artificial Pancreas System, which is in preclinical development, is an implantable bioartifical pancreas, incorporating porcine pancreatic islets, and is designed as a novel therapy for the treatment of insulin- dependent diabetes. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund research and development; preclinical testing and clinical trials and general corporate purposes including payments associated with litigation. |