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NEW YORK, Oct. 16, 2012 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced today that trading of KYTHERA Biopharmaceuticals (Nasdaq:KYTH), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel prescription products for the aesthetic medicine market, commenced on The NASDAQ Stock Market on October 11, 2012.
KYTHERA Biopharmaceuticals strives to develop prescription products using an approach that relies on biotechnology to address unmet needs in the rapidly-growing market for aesthetic medicine. KYTHERA's initial focus is on the facial aesthetics market, which comprises the majority of the aesthetic medicine market. Their product, ATX-101, is currently in Phase III clinical development for the reduction of submental fat, which is commonly presented as unwanted fat under the chin.
"KYTHERA Biopharmaceuticals strives to break ground in the growing aesthetics market, with an initial focus on developing a facial injectable drug for the treatment of submental fat, or double chin," said Bob McCooey, Senior Vice President, NASDAQ OMX Corporate Client Group. "We are proud to welcome KYTHERA to the NASDAQ family and look forward to supporting their endeavors as a public company."
"We founded KYTHERA Biopharmaceuticals seven years ago with a vision to create a new kind of biotechnology company using great science, clinical rigor and real innovation to address unmet needs in the rapidly-growing aesthetic medicine market," said Keith Leonard, KYTHERA's President and CEO. "The success of our IPO reflects the hard work, creativity and diligence of our employees, advisors and the physician community. We are delighted to join the ranks of other NASDAQ OMX public companies as we look to build KYTHERA into a leading aesthetics company."
Since its inception, NASDAQ OMX has consistently been the exchange of choice for progressive and cutting-edge health care and biopharmaceutical companies like KYTHERA Biopharmaceuticals. In 2012, NASDAQ has welcomed over 78 percent of the health care companies that have listed on U.S. markets.