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Seattle based company, Acucela Inc., with lead geographic atrophy compound raises $162M in IPO.

A Seattle-based company, Acucela Inc., has raised $162.4M through the sale of 9.2M shares on the Tokyo Stock Exchange (TSE). The company was originally founded as a spin-out by ophthalmologist and current President & CEO, Dr. Ryo Kubota in September 2003 with support from two Japanese companies and the University of Washington. The public share offering was underwritten by Mitsubishi UFJ Morgan Stanley Securities and since trading began on the TSE’s Mothers’ Exchange on Feb 13th the stock has gained almost 10% (as of 5pm, Feb 17, 2014).