Horizon Pharma braves a chilly market with $86M IPO

Apparently undaunted by the rough reception biotech companies have received on Wall Street this year, Horizon Pharma has floated plans to raise a total of $86.25 million through an IPO. Northbrook, IL-based Horizon, which started out as Nitec in 2004, has two drugs that have made it through late-stage trials and plans to use the money to finish the regulatory work and boot up commercialization efforts. Over the past six years the developer has raised $54 million from a list of venture...