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Rodman & Renshaw Acts as Co-Lead Underwriter to Ventrus Biosciences Inc. on the Pricing of Its Initial Public Offering on NASDA

^{Published on 2010-12-17 08:25:43 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), announced that it acted as co-lead managing underwriter on the pricing of its client Ventrus Biosciences Inc. ("Ventrus") (Nasdaq:VTUS) initial public offering of 2,900,000 shares at $6.00 per share. The shares are expected to begin trading today, December 17, 2010 on the Nasdaq Capital Market under the symbol "VTUS". In addition, Ventrus has granted the underwriters a 45-day option to purchase up to an additional 435,000 shares to cover over-allotments, if any.

The offering of these securities will be made only by means of a prospectus. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the final prospectus relating to the offering may be obtained, when available, for free by visiting the U.S. Securities and Exchange Commission website at [ http://www.sec.gov/ ]. Alternatively, a copy of the prospectus related to this offering may be obtained from Rodman & Renshaw, LLC, Prospectus Department, 1251 Avenue of the Americas, New York, NY, 10020, telephone: 212-430-1710 or email: [ info@rodm.com ].

About Ventrus Biosciences Inc.

Ventrus is a development stage specialty pharmaceutical company focused on the development of late-stage prescription drugs for gastrointestinal disorders, specifically hemorrhoids, anal fissures and fecal incontinence. There are approximately 12.5 million Americans suffering from hemorrhoids, 7 million from fecal incontinence and over 4 million from anal fissures. Our lead product, Inferanserin (VEN 309) is a new chemical entity, or NCE, for the topical treatment of hemorrhoids, which targets a specific serotonin receptor (5HT2A) thought to be important in the disease.

Our additional product candidate portfolio consists of two in-licensed late-stage drugs intended to treat anal fissures (VEN 307) and fecal incontinence (VEN 308). These candidates are two molecules that were previously approved and marketed for other indications and that have been formulated into our proprietary topical treatments for these new gastrointestinal indications.

About Rodman & Renshaw

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC.

Rodman & Renshaw is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Rodman also provides research and sales and trading services to institutional investors. Rodman is the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets. According to Sagient Research Systems, Rodman has been ranked the #1 Placement Agent in terms of the aggregate number of PIPE and RD financing transactions completed every year since 2005.

For more information visit Rodman & Renshaw on the Internet at [ www.rodm.com ]

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