Coherus Biosciences Inc. filed an S-1 with the Securities and Exchange Commission for an initial public offering. No terms were given for the offering but it has filed to raise up to $86.25 million. The company plans to list on the Nasdaq Global Market under the symbol CHRS. The underwriters for this offering are J.P. Morgan, Cowen and Co. and Credit Suisse.

Coherus is a late-stage clinical biologics platform company focused on the global biosimilar market. Biosimilars are an emerging class of protein-based therapeutics with a similarity to approved originator products in terms of various physicochemical and structural properties, as well as in terms of safety, purity and potency.

Since its founding in 2010, the company has advanced one product candidate into Phase 3 clinical development and two others into or through Phase 1 clinical development. It has currently entered into partnerships with two global pharmaceutical companies.

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The clinical stage pipeline has two anti-inflammatory agents that target tumor necrosis and a long acting form of granulocyte colony-stimulating factor. For the Coherus Pipeline see their diagram below.

The proceeds from this offering will be going directly to financing the development of each of the product candidates, but an amount for each has not yet been decided. Further use of the proceeds will go towards workings capital and other general corporate purposes which may include the licensing of other products or technologies.

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