Patheon Signs Deal, Plans Stock Offering

Patheon, the pharmaceutical services firm that last year merged with DSM’s fine chemicals business, plans an initial public offering of stock. A prospectus filed with the Securities & Exchange Commission says Patheon wants to raise up to $100 million, but the biotech IPO research firm Renaissance Capital expects Patheon to ultimately reap some $700 million. Separately, Patheon has signed a service contract with the immunotherapy drug developer Inhibrx. Patheon will develop biologic drug production processes for Inhibrx at its Princeton, N.J., facility and provide manufacturing at its plant in Brisbane, Australia.