WILMINGTON, N.C. – Merrion Pharmaceuticals, a developer of oral drug delivery technology, is going public.
Merrion, which is based in Wilmington and Dublin, Ireland, said it plans to list shares on the Nasdaq under the symbol ‘MERR.”
Shares also would be sold on the Irish Enterprise Exchange in Dublin.
The company looks to raise $46 million with the IPO, according to Reuters.
Merrion was founded in 2004. Its U.S. headquarters are located in Wilmington as are administrative, clinical development and regulatory affairs.
Under its marketing slogan, “Making Medicines Better,” Merrion is developing means of taking drugs orally rather than through injections and other “complex treatment regimes.” By making drugs easier to take, the company hopes to improve patient compliance.
"We aim to be the premier supplier of oral drug delivery technology to the pharmaceutical and biotechnology industries," company executives told WRAL Local Tech Wire shortly after the firm’s launch.
Merrion recently received a U.S. patent for a drug delivery system based on peptide compounds.
The IPO is being managed by Punk, Ziegel & Company as lead manager and Goodbody
Stockbrokers and Stanford Group Company as co-managers.
