Tranzyme Pharma looks to raise between $55 million and $65 million with its planned stock offering.

If Tranzyme is successful with the IPO, its shares will trade on the Nasdaq market under the symbol TZYM.

According to the filing, Tranzyme generated $8.5 million in revenue and reported a loss of $52,000 last year.

Tranzyme priced its stock offering in a filing with the Securities and Exchange Commission.

The company will offer 5 million shares with another 750,000 shares set aside for the underwriters of the offering.

Tranzyme filed its IPO plans originally last November. In December, Traznyme named Eli Lilly executive John Johnson as its chairman.

Tranzyme was formed in 1993. It is going public based on momentum built largely over the past two years.

In July, Tranzyme landed its second major partnership deal in seven months for its small molecule technology and potential drug pipeline.

The company signed a deal worth as much as $158 million with European pharmaceutical firm Norgine B.V. for development of a treatment targeting diseases of the muscles of the gastrointestinal track – called gastrointestinal dysmotility – in acute care conditions.

Tranzyme received an $8 million upfront payment as part of the deal plus as much as $150 million based on achievement of development, regulatory and commercial milestones. Tranzyme also will receive double-digit royalties on future sales.

The compound under development, called ghrelin agonist ulimorelin (TZP-101), is entering Phase III clinical trials. It is Tranzyme’s lead product.

In December 2009, Tranzyme struck a deal with Bristol-Myers Squibb potentially worth hundreds of millions of dollars. Tranzyme has won several patents for its technology that targets internal disorders, such as gastroparesis (weak stomach) and post-operative ileus (POI), or blockage of the intestine with its own drug candidates.

For the SEC filing, read here.

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