Norwood Immunology to seek IPO in United States

By Jennifer Chiou

New York, Nov. 15 - Norwood Immunology Ltd. announced plans for an initial public offering in the United States.

The company is looking to appoint a U.S.-based investment banking firm for the IPO. Details of the offering were not available at press time Tuesday.

Norwood Immunology said it licensed its immunology intellectual property to TAP Pharmaceutical Products Inc. The company is using TAP Pharmaceutical's GnRH analog Lupron Depot to study its effect in regenerating the thymus gland and the body's immune system, enabling patients to better recover from life-threatening diseases, the company said.

TAP Pharmaceutical, which is located in Lake Forest, Ill., is a joint venture between Abbott Laboratories and Takeda Pharmaceutical Co. Ltd.

Victoria, Australia-based Norwood is focused on the rejuvenation of the immune system.

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