Discovery Partners Announces IPO

Discovery Partners International of San Diego announced on May 6 the initial public offering of 7,222,000 shares of its common stock at a price of $5 per share. The shares are being sold by Axys Pharmaceuticals, a stockholder of Discovery Partners, the company said.

SG Cowen & Co. is acting as lead manager of the offering, and Merriman Curhan Ford & Co and Roth Capital Partners are co-managers.

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