Former Genzyme subsidiary rEVO Biologics files IPO plan

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Framingham-based rEVO Biologics is seeking to join the flood of biotechnology companies going public.

The company was founded as a subsidiary of Genzyme Corp. in early 1993, but went public later that same year. It was then taken private in late 2010 with a sale to LFB Biotech.

The company has had several name changes, and has had its current name since January 2013.

The firm is seeking to raise $74.7 million in its initial public offering, according to the plan filed with the US Securities and Exchange Commission.

Ten Massachusetts biotech companies have gone public so far in 2014, a record number for any one year.

But unlike most of those companies — which have yet to bring an approved drug to market — rEVO is a commercial-stage company. The firm has marketed a drug in the United States since 2009, ATryn, for the prevention of blood clots in patients with a rare clotting disorder (hereditary antithrombin deficiency).

Last year, rEVO Biologics generated $33 million in revenue, with a net loss of $11.7 million.

Kyle Alspach has worked in journalism in Massachusetts since 2005 and was one of the original staff writers at BetaBoston.
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