Targeted Medical Pharma is seeking to raise a total of about $117.7 million from an initial public offering (IPO), The Wall Street Journal reports. The medical-foods and generic-drug company has also filed with the Securities and Exchange Commission for the same.
The firm will use the proceeds from the offering in numerous parts of its business, including sales and marketing, distribution development, facility and technical infrastructure, management expansion, scientific education and research and development. The company has also proposed listing on the Nasdaq Capital Market.
