Precision Therapeutics files for $80.5 mln IPO

Fri Aug 24, 2007 7:21am EDT

Aug 24 (Reuters) - Life sciences company Precision Therapeutics Inc filed with U.S. regulators on Friday to raise up to $80.5 million in an initial public offering of common stock.

JP Morgan Securities Inc, Piper Jaffray & Co and JMP Securities LLC are underwriting the IPO, the Pittsburgh, Pennsylvania-based company told the U.S. Securities and Exchange Commission in a preliminary prospectus.

The company develops and commercializes tests intended to assist physicians in individualizing cancer therapy. The filing did not reveal how many shares the company planned to sell or the expected price.

(Reporting by Dilipp S. Nag in Bangalore)

((Editing by Himani Sarkar; Reuters Messaging: dilipp.nag.reuters.com@reuters.net; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800)) Keywords: PRECISIONTHERAPEUTICS IPO/

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